Committee advances new tax credit to incentivize rehabilitation of historic mills and factories

The House Finance Committee reported House Bill 15 75 by a vote of 15–11. The bill, sponsored by Representative Freeman, would establish a new tax credit administered by the Department of Community and Economic Development to encourage rehabilitation of historic mills and factories.

Committee staff said the proposal would create a Pennsylvania tax credit targeted to mill and factory reuse; the fiscal cost was cited in committee testimony as $15 million and the proposal would use the same $1.5 million per-project cap referenced elsewhere in committee discussion.

Representative Freeman and other supporters said the credit would help communities across the state reuse industrial heritage buildings. "This would create a new tax credit in Pennsylvania," committee staff told members, and supporters noted concentrated need in counties with industrial building stock. Representative Jared Reiner spoke in favor on the record but said he expected to vote no in this session because of current budget constraints while expressing personal support for the bill's intent.

The committee required a roll-call vote; the clerk recorded yeas and nays and the chair announced: "House bill 15 75 is reported from the finance committee by a vote of 15, to 11."

Action: HB 15 75 was called up and reported out of committee with a 15–11 vote. The committee did not record amendments to the bill during the meeting. The Department of Community and Economic Development would administer the proposed credit if the bill becomes law.

Members noted budget constraints in discussion and some members said they supported the bill's goals but could not support it in the current fiscal environment.