On April 10, Sen. John DiSanto (R-Dauphin) announced plans to introduce legislation to help mitigate the impact of reduced property taxes and payments as a result of power plants closing.
Sen. DiSanto’s district would be affected by the closure of the Three Mile Island Nuclear Power Plant.
The bill would require the Department of Community and Economic Development to make funding awards to localities that experience a reduction of at least 20 percent in tax payments received by a power plant.
Eligible applicants will be able to receive financial relief on a temporary basis for a total of four years and may receive an initial award up to 80 percent of the demonstrated tax loss in year 1, 60 percent in year 2, 40 percent in year 3, and 20 percent in year 4.
“When a power plant closes, there is significant disruption to the local community’s economy and tax base as these facilities are both major employers and taxpayers,” said Sen. DiSanto. “By offering temporary relief for school districts and municipalities, we give local stakeholders additional time to replace tax shortfalls and help them transition while lessening the immediate impact on schools and essential public services.”
Click Here for a co-sponsor memo Sen. DiSanto sent to his colleagues.
Sen. DiSanto is not a co-sponsor of Senate Bill 510 (Aument-R-Lancaster) that would provide financial help to the state’s nuclear power plants.
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