Tax Increment Financing
What Are TIFs/How Do They Work?
The Tax Increment Financing Act of 1990 (amended 1992), Act113, 35 P.S.§6930.1 et seq., permits Local IndustrialDevelopment or Redevelopment Authorities to administer a TIFproject in accordance with the affected local taxing bodies.
Today 49 states and the District of Columbia have suchlegislation.
The process starts with a local Authority working with a privatedevelopment project in need of assistance with excessive costsrelated to necessary improvements to support the project.
In the majority of cases, the required assistance involves fundingmandated public infrastructure improvements.
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