Pennsylvania HB2127 amends the waterfront development tax credit, adjusting timelines and increasing tax credit limits.

Pennsylvania HB2127 modifies the waterfront development tax credit by setting a 60-day deadline for the Department of Revenue to notify waterfront development organizations about their approval status. It also raises the cap on tax credits to 90% of total contributions by a business firm and increases the annual limit on all tax credits to $10,000,000. The bill aims to streamline the approval process and enhance financial incentives for waterfront development projects.

Pennsylvania HB2127 amends the waterfront development tax credit, adjusting timelines and increasing tax credit limits.

Pennsylvania HB2127 modifies the waterfront development tax credit by setting a 60-day deadline for the Department of Revenue to notify waterfront development organizations about their approval status. It also raises the cap on tax credits to 90% of total contributions by a business firm and increases the annual limit on all tax credits to $10,000,000. The bill aims to streamline the approval process and enhance financial incentives for waterfront development projects.