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§ 8921-D. Additional keystone opportunity expansion zones

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 8, 2022

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 5. Tax Reform Code of 1971 (Refs & Annos)
Article XIX-D. Keystone Opportunity Zones, Keystone Opportunity Expansion Zones and Keystone Opportunity Improvement Zones (Refs & Annos)
Part III. Additional Designations (Refs & Annos)
Effective: July 8, 2022
72 P.S. § 8921-D
§ 8921-D. Additional keystone opportunity expansion zones
Currentness
(a) Establishment.--In addition to any designations under Part II1 or section 301.12 of the KOZ Act, the department may designate one or more additional keystone opportunity expansion zones within the following counties:
(1) A county that has a population of at least 500,000 but less than 525,000 based on the 2010 Federal decennial census.
(2) A county that has a population of at least 140,000 but less than 145,000 based on the 2010 Federal decennial census.
(3) A county that has a population of at least 80,000 but less than 85,000 based on the 2010 Federal decennial census.
(b) Criteria.--Notwithstanding Part II and the KOZ Act,3 an additional keystone opportunity expansion zone under this part:
(1) May be less than 10 acres in size.
(2) May not exceed, in the aggregate, a total of 375 acres.
(3) Shall be comprised of parcels that are deteriorated, underutilized or unoccupied on the effective date of this paragraph.
(c) Authorization.--
(1) Persons and businesses within an additional keystone opportunity expansion zone authorized under subsection (a) shall be entitled to all tax exemptions, deductions, abatements or credits under this section and exemptions for sales and use tax under section 511(a) or 705(a)4 of the KOZ Act for a period of 10 years.
(2) Exemptions for sales and use taxes under sections 511 and 705 of the KOZ Act shall commence upon issuance of a certificate under section 3075 of the KOZ Act by the department.
(d) Application.--
(1) In order to receive a designation under this section, the department must receive an application from a political subdivision or its designee no later than October 1, 2023. The application must contain the information required under section 302(a)(1), (2)(i) and (ix), (5) and (6)6 of the KOZ Act.
(2) 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 zone within three months of receipt of the application.
(3) The department shall act on an application for a designation under section 302(a)(1) of the KOZ Act by December 31, 2023.
(4) The department may make designations under this section on a rolling basis during the application period.
(e) Disapproval.--If the department does not approve of a designation as an additional keystone opportunity expansion zone of a parcel under subsection (d), the department shall hold a public hearing in the municipality for which the application was made within 30 days of the disapproval. The Secretary of Community and Economic Development, or a designee, shall provide the following information at the public hearing:
(1) The reason for the disapproval.
(2) The estimated number of new jobs that would have been created in the parcel.
(3) The estimated dollar amount of new investment that would have been made in the parcel.
(4) An alternative economic development plan developed by the department that would, if implemented, provide an equivalent number of jobs and amount of investment in the municipality for which the application was made.
(f) Transparency.--The department shall conduct the public hearing required under subsection (e) in accordance with applicable provisions of 65 Pa.C.S. Ch. 7 (relating to open meetings).

Credits

1971, March 4, P.L. 6, No. 2, art. XIX-D, § 1921-D, added 2019, June 28, P.L. 50, No. 13, § 20, effective July 1, 2019. Amended 2021, June 30, P.L. 124, No. 25, § 21, imd. effective; 2022, July 8, P.L. 513, No. 53, § 14, imd. effective.

Footnotes

1
72 P.S. § 8911-D et seq.
2
73 P.S. § 820.301a.
3
73 P.S. § 820.101 et seq.
4
73 P.S. § 820.511 or 820.705.
5
73 P.S. § 820.307.
6
73 P.S. § 820.302.
72 P.S. § 8921-D, PA ST 72 P.S. § 8921-D
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document