Skip to main content
Find a Lawyer

Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8702-K. Definitions

Current as of January 01, 2026 | Updated by Findlaw Staff

The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Business firm.”  An entity authorized to do business in this Commonwealth and subject to taxes imposed under Article III, IV, VI, VII, VIII, IX or XV   1 or the tax under Article XVI of the act of May 17, 1921 (P.L. 682, No. 284),   2 known as The Insurance Company Law of 1921.  The term includes a pass-through entity.

“Contribution.”  A donation of cash or personal property made by a business firm to a waterfront development organization to fund a waterfront development project under this article.

“Department.”  The Department of Community and Economic Development of the Commonwealth.

“Pass-through entity.”  Any of the following:

(1) A partnership as defined under section 301(n.0). 3

(2) A Pennsylvania S corporation as defined under section 301(n.1).

(3) An unincorporated entity subject to section 307.21.  4

“Tax credit.”  The waterfront development tax credit authorized by this article.

“Waterfront.”  A site that is directly adjacent to a body of water.

“Waterfront development organization.”  An authority established under the act of December 6, 1972 (P.L. 1392, No. 298),   5 known as the Third Class City Port Authority Act, or a nonprofit entity that meets all of the following:

(1) For a nonprofit entity, is exempt from Federal taxation under section 501(c)(3) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 501(c)(3)).

(2) Has been in existence for a minimum of five years.

(3) Has a board of directors which meets at least once annually.

(4) Has completed a waterfront development plan.

“Waterfront development plan.”  A plan approved by the Department of Community and Economic Development that meets all of the following:

(1) Provides for the development or enhancement of waterfront property that creates public access to the water, increases property values, restores ecology and catalyzes further financial investment and job creation to incentivize future economic development.

(2) Adheres to current environmental practices.

(3) Considers and integrates approaches that support natural and native habitat.

(4) Considers and integrates architectural and landscape design elements and standards.

“Waterfront development project.”  A project to develop a waterfront site or area or a project that creates or improves public access and connections to the waterfront.  The term may include:

(1) Streets and public rights-of-way.

(2) Waterfront parks, gardens and open spaces.

(3) Enhancement of access to public utilities.

(4) The promotion of erosion control, storm water management and other environmental projects that promote economic development.

(5) Water transportation facilities for use by the public, including water transit landings and boat docking.

(6) Amenities, including infrastructure and recreational projects.

1  72 P.S. §§ 7301 et seq., 7401 et seq., 7601 et seq. (expired), 7701 et seq., 7801 et seq., 7901 et seq., 8501 et seq.
2  40 P.S. § 991.1601 et seq.
3  72 P.S. § 7301.
4  72 P.S. § 7307.21.
5  55 P.S. § 571 et seq.
Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8702-K. Definitions - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-8702-k/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard