Pennsylvania 2023-2024 Regular Session

Pennsylvania Senate Bill SB781

Introduced
6/19/23  

Caption

Providing for the creation of keystone opportunity dairy zones to facilitate the economic development of Pennsylvania's dairy industry; authorizing expenditures; providing tax exemptions, tax deductions, tax abatements and tax credits; creating additional obligations of the Commonwealth and local governmental units; prescribing powers and duties of certain State and local departments, agencies and officials; and imposing penalties.

Impact

The bill's implementation could have meaningful implications for state laws concerning taxation and local governance. Local governments that wish to create these zones will be required to enact ordinances aligned with the provisions of this act, thus centralizing some authority regarding local taxation and economic development efforts. Qualified businesses would benefit directly from the tax incentives, ensuring that they meet certain criteria, such as investment thresholds and job creation targets. This could lead to a revitalization of the dairy sector, which is seen as vital to the agricultural landscape of Pennsylvania.

Summary

Senate Bill 781, known as the Keystone Opportunity Dairy Zone Act, aims to stimulate the economic development of Pennsylvania's dairy industry by establishing designated 'keystone opportunity dairy zones.' The bill allows for significant tax exemptions, deductions, abatements, and credits for qualifying businesses and residents within these zones. This approach is intended to enhance dairy processing capabilities and support local economies by reducing the tax burden on participants in the dairy sector, thereby promoting job creation and investment.

Sentiment

Sentiment around SB781 appears generally supportive from the dairy industry advocates and local businesses that stand to benefit from the tax breaks. Stakeholders believe that it will lead to increased productivity and sustainability within the sector. However, there may be concerns from local governments about the potential reduction in their tax revenues and the implications of having to align their regulations with state mandates for zone designations. The interplay between state support and local control is likely to be a significant point of consideration as the act moves forward.

Contention

One notable point of contention involves the balance between state economic initiatives and local governance responsibilities. Critics may argue that while the push for economic development is crucial, it could undermine local government's abilities to manage their fiscal policies and shape the economic landscape tailored to local needs. Additionally, eligibility requirements and compliance measures introduce a layer of complexity that could challenge smaller businesses or new entrants in the dairy sector, raising questions about equitable access to the benefits the bill offers.

Companion Bills

No companion bills found.

Similar Bills

PA HB177

Providing for the creation of keystone opportunity dairy zones to facilitate the economic development of Pennsylvania's dairy industry; authorizing expenditures; providing for tax exemptions, tax deductions, tax abatements and tax credits; creating additional obligations of the Commonwealth and local governmental units; prescribing powers and duties of certain State and local departments, agencies and officials; and imposing penalties.

PA SB384

Providing for the creation of keystone opportunity dairy zones to facilitate the economic development of Pennsylvania's dairy industry; authorizing expenditures; providing tax exemptions, tax deductions, tax abatements and tax credits; creating additional obligations of the Commonwealth and local governmental units; prescribing powers and duties of certain State and local departments, agencies and officials; and imposing penalties.

PA HB995

Providing for the creation of keystone opportunity dairy zones to facilitate the economic development of Pennsylvania's dairy industry; authorizing expenditures; providing tax exemptions, tax deductions, tax abatements and tax credits; creating additional obligations of the Commonwealth and local governmental units; prescribing powers and duties of certain State and local departments, agencies and officials; and imposing penalties.

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 HB899

Providing for expanded neighborhood improvement zones.

PA HB1300

In emergency COVID-19 response, providing for

PA SB1056

In Treasury Department, further providing for investment of moneys; establishing the Keystone Saves Program, the Keystone Saves Program Fund, the Keystone Saves Administrative Fund and the Keystone Saves Program Advisory Board; providing for powers and duties of the Treasury Department, for investment and fiduciary responsibilities and for program implementation; and providing for the electric vehicle road user charge effective date.

PA HB1453

Providing for food desert opportunity zones and for food desert opportunity zone tax credits; and imposing powers and duties on the Department of Community and Economic Development and the Department of Revenue.