State Sen. Maria Collett (D-Bucks/Montgomery) recently introduced a bill memo for co-sponsorship to establish a Public Works Impacted Business Tax Credit, which would aim to mitigate short-term adverse effects of public works projects on local businesses.
Collett noted that while public works projects provided benefits, the construction involved can impact businesses in the immediate area. She cited the example of a local restaurant owner who recently shared on social media that his business had suffered due to a bridge project.
“The success of our local businesses and business owners is integral to the success of our communities,” Sen. Collett said. “The Public Works Impacted Business Tax Credit will help alleviate the financial impact that these projects may have on the staples of our communities as we seek to improve our infrastructure across the Commonwealth.”
The Public Works Impacted Business Tax Credit will be modeled after a program in the City of Philadelphia. A business that has experienced a loss of net income and receipts/sales of 10 percent or more at a location where public works projects significantly obstructed access to the business for 30 days or more would be able to apply for the tax credit.