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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | January 23, 2014 12:42 PM |
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| From: | Representative Madeleine Dean |
| To: | All House members |
| Subject: | Neighborhood Assistance Tax Credit Program |
| In the near future, I plan to introduce legislation that expands the Neighborhood Assistance Tax Credit Program to provide an additional $3 million in tax credits to businesses investing in veterans’ housing assistance. In Pennsylvania, there are approximately 1,500 homeless veterans living in temporary shelter, transitional housing, or on the street. This includes women with children, the elderly, the physically or mentally impaired, and other vulnerable populations. Unfortunately, supportive housing services that can prevent homelessness are insufficient to meet current demand. The unmet housing needs of vulnerable populations – particularly veterans and their families – have become more prominent, and closer examination of existing programs makes it clear that the homeless rate of veterans outpaces that of the general population. As a result, veterans have become a priority for housing service agencies and the philanthropic community. The Neighborhood Assistance Tax Credit Program – which provides $18 million in tax credits annually – has played a critical role in encouraging private businesses to contribute to worthy causes in our communities. However, without an allocation increase since 1997, its real dollar value has diminished over time. Had the program kept pace with inflation it would now provide more than $26 million annually to support neighborhood improvement projects. There is broad support for providing additional funding to ensure housing for veterans, but without siphoning critical resources from other worthy community service missions currently funded under the Neighborhood Assistance Tax Credit Program. As such, my legislation provides an additional $3 million in tax credits to businesses investing in veterans’ housing assistance. Please join me in sponsoring this important legislation. |
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| View Attachment | ||
Introduced as HB2164