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 title of act, for construction, for definitions and for deteriorated areas; providing for ordinance and resolution limitations; further providing for exemption schedule and for procedure for obtaining exemption; and providing for public registry.

Summary

The bill updates the 1977 Local Economic Revitalization Tax Assistance Act by adding new definitions for terms such as “deteriorated property,” “converted residential portion,” and “mixed‑use building.” It requires local taxing authorities to hold a public hearing before designating deteriorated areas and to adopt ordinances or resolutions that specify exemption details. A public registry of granted exemptions is also created.

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