Tax credit for waterfront development passes Pa. Senate committee
The state Senate Finance Committee last week voted in favor of a bill to establish a Waterfront Development Tax Credit initiative in Pennsylvania.
The tax credits would encourage private investment, economic development, environmental improvements and enhancements for public recreation, according to a news release.
The legislation, Senate Bill 968, is from state Sen. Randy Vulakovich, R-Allegheny and Butler counties.
The credits, capped at $10 million per year, would be available to individuals or businesses contributing to nonprofit waterfront improvement organizations, the release stated.
Vulakovich introduced the bill, noting Pittsburgh waterfront investments, earlier this year.