Pennsylvania SB264 amends the Local Economic Revitalization Tax Assistance Act to limit the duration of tax exemption schedules to 20 years.
Pennsylvania SB264 amends the Local Economic Revitalization Tax Assistance Act to modify the exemption schedule for tax exemptions on deteriorated industrial, commercial, and business properties. The bill sets a maximum duration of 20 years for tax exemption schedules established by local taxing authorities. This change applies to applications for tax exemptions submitted after the bill's effective date, which is 60 days after its enactment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.