Pennsylvania HB359 amends the Tax Increment Financing Act to redefine project costs and clarify the creation and financing of tax increment districts.
Pennsylvania HB359 amends the Tax Increment Financing Act to redefine "project" and "project costs." A "project" now includes anti-displacement activities within a tax increment district and its area of impact. "Project costs" include capital, financing, real property assembly, professional service, administrative, relocation, anti-displacement activity, organizational, and other necessary costs. The bill also revises the process for creating tax increment districts, requiring a project plan and public hearing.
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- Critical Issues
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