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Tax credit for waterfront development passes Pa. Senate committee

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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.

Brent Burkey

Brent Burkey

Brent Burkey covers York County, agribusiness, energy and environment, and workforce issues. Have a tip or question for him? Email him at brentb@cpbj.com. Follow him on Twitter, @brentburkey.

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