Pennsylvania HB1874 amends the Transit Revitalization Investment District Act to create value capture areas for sharing tax revenue.
Pennsylvania HB1874 amends the Transit Revitalization Investment District Act to create value capture areas. These areas enable local municipalities, school districts, counties, and public transportation agencies to share increased tax revenue from real estate and other sources. The revenue is placed in a separate tax increment fund for the benefit of a redevelopment authority and to implement the Transit Revitalization Investment District planning study.
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- Impact
- Legal Framework
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