Neighborhood Improvement Zone (NIZ)
The Neighborhood Improvement Zone (NIZ) program was established by Act 50 of 2009, Act 26 of 2011 and Act 87 of 2012. Most state and local taxes collected by businesses within the Allentown-based NIZ will be used to repay bonds issued by the Allentown Economic Development Corporation to fund various economic development projects within the zone, including an arena.
All businesses within the NIZ must complete an annual tax report by Jan. 30 each year so the Department of Revenue may certify state taxes to be transferred to the NIZ Fund established for the redevelopment project.
Any business within the NIZ that fails to file a complete report on a timely basis will be subject to a penalty of 10 percent of all state taxes payable by the business for activities in the NIZ during the previous calendar year.
Businesses within the NIZ are also required to file local tax reports with the city of Allentown by Jan. 30, so that local taxes may be transferred to the NIZ Fund established for the redevelopment projects.
Questions regarding the NIZ program should be directed to 717-772-3896 or email@example.com