A bill intended to spur private investment in waterfront
areas across the commonwealth has been reintroduced in the state Senate.
Allegheny County Sens. Randy Vulakovich, a Republican,
and Democrat Jay Costa, are sponsoring Senate Bill 282, also known
as the waterfront development tax credit.
The bill would establish a $10 million tax credit to
encourage waterfront development.
It would be available to individuals or businesses that
contribute to nonprofit waterfront improvement organizations. And those
organizations and projects would need approval by the state Department of
Community and Economic Development prior to participating in the program.
A related measure was introduced last legislative
session. It came out of committee but didn't
receive a full vote by the Senate.
Nathan Silcox, executive director of the Senate Veterans
Affairs and Emergency Preparedness Committee, who works in Vulakovich's office,
said the bill could affect 64 of the 67 counties in Pennsylvania because they
have significant waterways.
Source: Central
Penn Business Journal
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