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SB264 • 2025

An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for exemption schedule.

An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for exemption schedule.

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
FONTANA
Last action
2025-02-20
Official status
Referred to FINANCE, Feb. 20, 2025
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for exemption schedule.

An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for exemption schedule.

What This Bill Does

  • An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for exemption schedule.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-02-20 FINANCE

    Referred to FINANCE, Feb. 20, 2025

Official Summary Text

An Act amending the act of December 1, 1977 (P.L.237, No.76), known as the Local Economic Revitalization Tax Assistance Act, further providing for exemption schedule.

Current Bill Text

Read the full stored bill text 
PRINTER'S NO. 216
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 264
Session of
2025
INTRODUCED BY FONTANA, SAVAL, SCHWANK, COSTA, KANE, KEARNEY,
MILLER AND SANTARSIERO, FEBRUARY 20, 2025
REFERRED TO FINANCE, FEBRUARY 20, 2025
AN ACT
Amending the act of December 1, 1977 (P.L.237, No.76), entitled
"An act authorizing local taxing authorities to provide for
tax exemption for certain deteriorated industrial, commercial
and other business property and for new construction in
deteriorated areas of economically depressed communities;
providing for an exemption schedule and establishing
standards and qualifications," further providing for
exemption schedule.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 5(b)(1) of the act of December 1, 1977
(P.L.237, No.76), known as the Local Economic Revitalization Tax
Assistance Act, is amended to read:
Section 5. Exemption schedule.
* * *
(b) Whether or not the assessment eligible for exemption is
based upon actual cost or a maximum cost, the actual amount of
taxes exempted shall be in accordance with the schedule of taxes
exempted established by a local taxing authority subject to the
following limitations:
(1) The length of the schedule of taxes exempted shall
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not exceed [ten] 20 years.
* * *
Section 2. This act shall apply to applications for tax
exemptions submitted after the effective date of this section.
Section 3. This act shall take effect in 60 days.
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