§ 820.301d. Additional keystone opportunity expansion zones
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and CommerceEffective: February 14, 2012
Effective: February 14, 2012
73 P.S. § 820.301d
§ 820.301d. Additional keystone opportunity expansion zones
(1) In addition to any designations under section 301.1,1 the department may designate up to 15 additional keystone opportunity expansion zones in accordance with this section. Each additional keystone opportunity expansion zone shall:
(3) If a qualified business in a keystone opportunity expansion zone designated under paragraph (2) makes an investment of at least $1,000,000,000 and the business and its affiliates, as determined by the department, create at least 400 new permanent full-time jobs in one or more zones within seven years of the date of designation by the department, the department shall grant to the business and its affiliates in each of the designated zones exemptions, deductions, abatements and credits under this act for a period of 15 years from the date of occupancy. If the qualified business and its affiliates fail to comply with the provisions of this paragraph, the period of the zone shall revert to ten years.
(b) Authorization.--Persons and businesses within an additional keystone opportunity expansion zone authorized under subsection (a)(1) or (2) shall be entitled to all tax exemptions, deductions, abatements or credits set forth under this act, except exemptions for sales and use tax under section 511(a) or 705(a),2 for a period of ten years. For a keystone opportunity expansion zone established under subsection (a)(1), the ten-year period shall begin on January 1, 2010, and end on December 31, 2020. For a keystone opportunity expansion zone established under subsection (a)(2), the ten-year period shall begin on January 1, 2014, and end on December 31, 2023. Exemptions for sales and use taxes under sections 511 and 705 shall commence upon designation of the zone by the department.
(c) Application.--In order to receive a designation under subsection (a)(1), the department must receive an application from a political subdivision or its designee no later than May 1, 2009, and no later than October 1, 2013, for a keystone opportunity expansion zone established under subsection (a)(2). The application must contain the information required under section 302(a)(1), (2)(i) and (ix) and (6).3 The application must include all ordinances, resolutions or other required action adopted by all political subdivisions in which the keystone opportunity expansion zone is located providing the tax exemptions, deductions, abatements and credits authorized under Chapter 7.4 The department, in consultation with the Department of Revenue, shall review the application and, if approved, issue a certification of all tax exemptions, deductions, abatements or credits under this act for the additional keystone opportunity expansion zone within three months of receipt of the application. The department shall act on an application for a designation under subsection (a)(1) by June 30, 2009, and on an application for a designation under subsection (a)(2) by November 30, 2013. The department may make designations under this section on a rolling basis during the application period. The department may make designations under subsection (a)(2) that meet the requirements of this act, provided that at least three keystone opportunity expansion zones are reserved for counties of the fifth through eighth classes. If the department receives less than three applications that meet the requirements of this act from counties of the fifth through eighth classes by the application deadline under this subsection, the number of zones reserved under this subsection, minus the number of such applications for zones the department has approved, shall be available for designation in any county.
(1) The department may designate any of the 15 remaining keystone opportunity expansion zones established under subsection (a)(1) for which there was no designation by the department as of the effective date of this subsection.5 To receive a designation of a remaining keystone opportunity expansion zone under this subsection, the department must receive an application from a political subdivision or its designee by June 1, 2012. The application must comply with subsection (c) except for the application deadline. The department, in consultation with the Department of Revenue, shall review the application and, if approved, shall issue a certification of all tax exemptions, deductions, abatements or credits under this act for the additional keystone opportunity expansion zone within three months of receipt of the application.
(2) Persons and qualified businesses within an additional keystone opportunity expansion zone authorized under paragraph (1) shall be entitled to all tax exemptions, deductions, abatements or credits set forth under this act, except exemptions for sales and use tax under section 511(a) or 705(a), for a period of ten years beginning January 1, 2013, and ending December 31, 2022. Exemptions for sales and use taxes under sections 511 and 705 shall commence upon designation of the zone by the department.
Credits
1998, Oct. 6, P.L. 705, No. 92, § 301.4, added 2008, July 10, P.L. 1014, No. 79, § 2, effective in 60 days [Sept. 8, 2008]. Amended 2012, Feb. 14, P.L. 183, No. 16, § 1, imd. effective.
Footnotes
73 P.S. § 820.301a.
73 P.S. §§ 820.511, 820.705.
73 P.S. § 820.302.
73 P.S. § 820.701 et seq.
Subsec. (d)(1) added by 2012, Feb. 14, P.L. 183, No. 16, § 1, imd. effective.
73 P.S. § 820.301d, PA ST 73 P.S. § 820.301d
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
| End of Document |