Pennsylvania SB898 amends the Waterfront Development Tax Credit to increase the maximum tax credit percentage and total annual credit limit.

Pennsylvania SB898 modifies the Waterfront Development Tax Credit by raising the maximum tax credit percentage from 75% to 90% of a business firm's total contribution in a taxable year. Additionally, it increases the total annual tax credit limit from $5,000,000 to $10,000,000. The bill also establishes a timeline for the Department of Revenue to notify waterfront development organizations of their approval status within 60 days of application submission or renewal.

Pennsylvania SB898 amends the Waterfront Development Tax Credit to increase the maximum tax credit percentage and total annual credit limit.

Pennsylvania SB898 modifies the Waterfront Development Tax Credit by raising the maximum tax credit percentage from 75% to 90% of a business firm's total contribution in a taxable year. Additionally, it increases the total annual tax credit limit from $5,000,000 to $10,000,000. The bill also establishes a timeline for the Department of Revenue to notify waterfront development organizations of their approval status within 60 days of application submission or renewal.