On July 10, 2015, Senate
Bill No. 886, sponsored by Pennsylvania Senator
Scott Hutchinson, was referred to the Community, Economic and Recreational Development
Committee.
In his co-sponsorship
memorandum, Senator Hutchinson explained that the introduced
legislation is designed to establish the Pennsylvania Affordable Energy
Development Zones Program. This program will allow the state to promote
economic development and attract new businesses in distressed rural areas with
large supplies of natural gas.
The bill defines PAED
zones as areas “in one or more political subdivisions in which unconventional
gas wells are located.” The bill also stipulates that new businesses, in
addition to meeting certain employment and capital investment criteria, must
perform “a trade, profession or business involving energy or manufacturing, or
a related activity that uses natural gas from an unconventional formation.” In
return, new businesses will benefit from state tax exemptions.
Written by Chloe Marie - Research Fellow
07/17/2015
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