Home Table of Contents

§ 820.309. Decertification

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and CommerceEffective: December 9, 2002

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 16B. Pennsylvania Keystone Opportunity Zone Act (Refs & Annos)
Chapter 3. Keystone Opportunity Zones (Refs & Annos)
Effective: December 9, 2002
73 P.S. § 820.309
§ 820.309. Decertification
Currentness
(a) Application.--One or more political subdivisions, or a designee of one or more political subdivisions, may apply to the department to decertify and remove the designation of deteriorated property as part of a subzone, improvement subzone or expansion subzone. The application must contain all of the following:
(1) An identification of the property to be removed.
(2) A copy of an agreement which was supported by consideration in which each entity which possesses an interest in the real property to be removed, including any holder of an option either to purchase the real estate or to enter into a ground lease of the real estate or any other leasehold interest in the real estate, waives the party's right to any exemptions, deductions, abatements or credits granted by this act.
(3) A copy of a binding ordinance, resolution or other governing document passed by the political subdivision removing any exemptions, deductions, abatements or credits granted by this act effective upon decertification by the department.
(b) Process.--The department may grant the request to decertify and remove the property provided that completed applications have been submitted by all qualified political subdivisions in which the property is located.

Credits

1998, Oct. 6, P.L. 705, No. 92, § 309, added 2002, Dec. 9, P.L. 1727, No. 217, § 5, imd. effective.
73 P.S. § 820.309, PA ST 73 P.S. § 820.309
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document