Over the last few weeks, we gained momentum in our advocacy efforts to improve PA’s historic tax credit program.
Last Friday, Senators Nikil Saval and Frank Farry introduced S.B. 1259, which would raise the annual aggregate cap to $50 million, ensure syndicated partnerships with non-profits are eligible for the program, and increase funding for DCED and PHMC to administer the program.
On June 11, the House Finance Committee passed H.B. 2358, which would increase the annual aggregate cap to $20 million. Earlier this month, our Executive Director, Paul Steinke, testified in a public hearing of the Committee supporting the legislation. While this amount is lower than the Senate's ask, there is an opportunity to reconcile the two bills during the ongoing budget negotiation process.
Please get in touch with your legislators to support these important bills. As the budget negotiations continue, there is a crucial opportunity to include our legislative language. More details and information can be found on our webpage.
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