PENNSYLVANIA, February 20 - 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

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21