Pennsylvania 2023-2024 Regular Session

Pennsylvania Senate Bill SB1014

Introduced
12/18/23  

Caption

In city revitalization and improvement zones, further providing for definitions, for establishment or designation of contracting authority, for approval, for transfers, for restrictions, for transfer of property and for review.

Impact

One significant impact of SB 1014 would be on urban policy and economic development within Pennsylvania. The bill encourages the designation of revitalization zones that are limited to areas of economic distress and bolsters funding mechanisms through tax rebates and other financial resources. It proposes to make available funds that can be used for infrastructure development, supporting not just the creation of new businesses, but also improving existing ones in these targeted areas. This change is poised to foster investment in cities that require economic stimulation, potentially altering local economic landscapes significantly.

Summary

Senate Bill 1014 aims to amend existing legislation regarding city revitalization and improvement zones in Pennsylvania. The bill specifically updates definitions, enhances the establishment and approval processes for contracting authorities, and outlines financial management structures for these zones. By doing so, the bill seeks to streamline processes associated with economic development initiatives, particularly in distressed urban areas. It supports a partnership approach that involves local municipalities and community stakeholders, which is intended to ensure that improvements to these zones are both effective and responsive to local needs.

Sentiment

The sentiment surrounding SB 1014 is largely supportive among proponents who believe it could enhance urban revitalization efforts and stimulate job creation, thus fostering economic growth. However, there are concerns from skeptics about the effectiveness of such incentive-based programs. Critics warn that without proper oversight, the benefits may not reach the intended communities or might favor certain businesses over others. This dichotomy in opinion illustrates a tension between economic development goals and ensuring equitable access to resources for all affected communities.

Contention

Notable points of contention arise regarding the oversight measures for municipalities establishing contracting authorities. Detractors argue that while the intent is to empower local decision-making, there exists a risk of misallocation of funds or lack of accountability in how revitalization efforts are implemented. Additionally, the specific criteria for what constitutes a revitalization zone could be viewed as overly broad, potentially allowing for areas that may not need assistance to benefit from the resources meant for truly distressed neighborhoods. These debates reflect broader discussions about urban policy and the role of government intervention in economic revitalization.

Companion Bills

No companion bills found.

Previously Filed As

PA HB2406

In city revitalization and improvement zones, further providing for definitions, for establishment or designation of contracting authority, for approval, for functions of contracting authorities, for qualified businesses, for funds, for reports, for calculation of baseline, for certification, for transfers, for restrictions and for transfer of property, providing for floating zones, further providing for Commonwealth pledges and for confidentiality, providing for operational funding and technical support and further providing for guidelines and for review.

PA SB778

In city revitalization and improvement zones, further providing for approval.

PA SB448

In city revitalization and improvement zones, further providing for approval.

PA SB235

In city revitalization and improvement zones, further providing for approval.

PA HB1949

In city revitalization and improvement zones, providing for establishment of contracting authority board for city of the third class.

PA HB1575

In tax credit and tax benefit administration, further providing for definitions; and providing for factory or mill building economic revitalization.

PA SB367

In neighborhood improvement zones, providing for contracting authority membership and further providing for confidentiality.

PA HB1219

In personal income tax, further providing for classes of income and for special tax provisions for poverty and providing for alternative special tax provisions for poverty; in corporate net income tax, further providing for definitions, for imposition of tax, for reports and payment of tax, for consolidated reports and for manufacturing innovation and reinvestment deduction; in realty transfer tax, further providing for transfer of tax; in tax credit and tax benefit administration, further providing for definitions; in entertainment production tax credit, further providing for definitions, for credit for qualified film production expenses, for carryover, carryback and assignment of credit and for limitations; in Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits, providing for biotechnology; in neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit; providing for expanded neighborhood improvement zones; in Pennsylvania Child and Dependent Care Enhancement Tax Credit Program, further providing for credit for child and dependent care employment-related expenses; providing for Public Transportation Trust Fund; and, in general provisions, further providing for underpayment of estimated tax, for method of filing and for allocation of tax credits.

PA HB1293

Further providing for findings and declaration of policy, for definitions, for formation of housing authorities, for powers of an authority and for establishment of rentals and selection of tenants.

PA SB1286

In realty transfer tax, further providing for definitions and for excluded transactions.

Similar Bills

PA HB2406

In city revitalization and improvement zones, further providing for definitions, for establishment or designation of contracting authority, for approval, for functions of contracting authorities, for qualified businesses, for funds, for reports, for calculation of baseline, for certification, for transfers, for restrictions and for transfer of property, providing for floating zones, further providing for Commonwealth pledges and for confidentiality, providing for operational funding and technical support and further providing for guidelines and for review.

PA HB899

Providing for expanded neighborhood improvement zones.

CA SB587

California Sea Otter Voluntary Tax Contribution Fund.

PA SB654

In sales and use tax, further providing for

OK SB1707

21st Century Quality Jobs; providing for transfer to other incentive payments upon failure to meet requirements. Effective date.

MS HB588

Office of Workforce Development; revise funding mechanism for and revise powers and duties of.

MS SB2810

MS Workforce Training and Education Act; extend repealer on the act and in 2004 chapter law for conforming sections.

MS HB844

Office of Workforce Development; revise funding mechanism for and create Mississippi K-12 Workforce Development Grant Program.