The Greater Pittsburgh Chamber of Commerce recently released a statement applauding the advancement of House Bill 645, which will increase the cap on the Neighborhood Assistance Program (NAP) tax credit from $18M to $36M, effective July 1, 2019.
The bill was presented to the governor last week.
Through NAP, businesses make commitments to community revitalization initiatives in exchange for state credits. The program aims to support investments in struggling communities across Pennsylvania.
“The Allegheny Conference, of which the Chamber is an affiliate, is focused on improving the economy and quality of life in the 10-county Pittsburgh region,” Greater Pittsburgh Chamber of Commerce President Matt Smith said. “To advance this mission, the Chamber has long advocated for an increase on the NAP cap, which will allow for faster revitalization of the most underserved communities across the Commonwealth, including here in southwestern Pennsylvania.”
The $18 million cap had not been increased since the NAP’s inception in 1971. As a result, the Pennsylvania Department of Community and Economic Development had to reject more than half of its applicants whose requests exceeded the cap.
The Greater Pittsburgh Chamber created the NAP Coalition in 2017 to call for the increase of the annual cap.
Smith thanked Rep. Bernie O’Neill (R-Bucks), Sen. Wayne Fontana (D-Allegheny), Rep. Dom Costa (D-Allegheny) and Sen. Guy Reschenthaler (R-Allegheny) for their support of the legislation.