Last week, the United States Supreme Court ruled on a case out of South Dakota that will greatly impact Ohio and other states who have argued that they were losing out on billions of dollars in tax revenue due to online sales.
On November 12, 2013 the Greater Ohio Policy Center offered proponent testimony to the Senate Ways and Means Committee on the Neighborhood Infrastructure Assistance Program (NIAP). Senate Bill 149 proposes to create a program that would offer a tax credit to businesses or corporations that make monetary donations to catalytic community development projects. Providing testimony in partnership with coalition member, the Ohio CDC Association, GOPC and OCDCA explained the design specifics of the program and discussed successes other states have experienced with similar programs. After GOPC and OCDCA testified, a representative from PNC Bank offered proponent testimony in support of the bill. PNC has been a leading voice for the creation of this program in Ohio and has many years of experience participating in similar tax credit programs in Pennsylvania and New Jersey. Providing the private sector—investor—perspective, Stephanie Cipriani, Senior Vice President and Market Manager of Community Development Banking, described a range of projects PNC has invested in. These projects include a housing development and a workforce and early education center.
Last, a nonprofit leader from Asbury Park, New Jersey described the transformation of a neighborhood in Asbury Park which was decimated by race riots and urban renewal projects in the 1970s. With the help of New Jersey’s Neighborhood Revitalization Tax Credit Program, Paul McEvily and Interfaith Neighbors, Inc. have led the revitalization of one of New Jersey’s more disinvested neighborhoods. McEvily’s testimony included a series of pictures of this neighborhood transformation and the impact of the private-public partnership created through New Jersey’s program, which prompted the Committee Chairman to jokingly propose a field trip to Asbury Park!
The proposed NIAP program still has at least one more hearing in the Senate and at least two more in the House before it can be voted upon by either the full House or Senate. However, yesterday’s proponent testimonies significantly contributed to the momentum and energy around this proposed program. Be sure to follow our twitter feed, blog, and newsletters to learn when these hearings will be scheduled.
For background information on the Neighborhood Infrastructure Assistance Program, please visit our webpage.