Reading residents could see new and higher taxes beginning next year, and the city could lose its Act 47 status in as little as three years.
Those are some of the ramifications of a bill that would change the Act 47 program to aid distressed cities. The state Senate passed the bill with a unanimous vote Wednesday.
The bill would give cities in the state’s financial recovery program some new revenue tools, but also would kick them out of Act 47 at the end of whatever five-year plan they’re currently in.
No city has ever left Act 47 and some have been there for decades – Farrell in Mercer County and Aliquippa in Beaver County have been in since 1987. The changes are intended to force cities to leave sooner. – Read more at The Reading Eagle →