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§ 820.304. Criteria for authorization of keystone opportunity zone

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and CommerceEffective: December 23, 2003

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 23, 2003
73 P.S. § 820.304
§ 820.304. Criteria for authorization of keystone opportunity zone
Currentness
(a) Specific criteria.--In order to qualify for authorization under this act, the proposed keystone opportunity zone or proposed keystone opportunity expansion zone shall meet at least two of the following criteria:
(1) At least 20% of the population is below the poverty level.
(2) The unemployment rate is 1.25 times the Statewide average.
(3) At least 20% of all real property within a five-mile radius of the proposed keystone opportunity zone, proposed keystone opportunity expansion zone, proposed subzone or proposed expansion subzone in a nonurban area is deteriorated or underutilized.
(4) At least 20% of all real property within a one-mile radius of the proposed keystone opportunity zone, proposed keystone opportunity expansion zone, proposed subzone or proposed expansion subzone in an urban area is deteriorated or underutilized.
(5) At least 20% of all occupied housing within a two-mile radius of the proposed keystone opportunity zone, proposed keystone opportunity expansion zone, proposed subzone or proposed expansion subzone in a nonurban area is deteriorated.
(6) At least 20% of all occupied housing within a one-mile radius of the proposed keystone opportunity zone, proposed keystone opportunity expansion zone, proposed subzone or proposed expansion subzone in an urban area is deteriorated.
(7) In an urban area, the median family income is 80% or less of the urban median family income for that metropolitan statistical area.
(8) In an area other than an urban area, the median family income is 80% or less of the Statewide nonurban median family income.
(9) The population loss exceeds 10% in an area that includes the proposed keystone opportunity zone or proposed keystone opportunity expansion zone and its surrounding area but is not larger than the county or counties in which the proposed keystone opportunity zone or proposed keystone opportunity expansion zone is located, based on census data for the period between 1980 and 1990 or census estimates since 1990 establishing a pattern of population loss.
(10) The political subdivision in which the proposed keystone opportunity zone or proposed keystone opportunity expansion zone is located has experienced a sudden and/or severe job loss.
(11) At least 33% of the real property in a proposed keystone opportunity zone or proposed keystone opportunity expansion zone in a nonurban area would otherwise remain underdeveloped or nonperforming due to physical characteristics of the real property.
(12) The area has substantial real property with adequate infrastructure and energy to support new or expanded development.
(b) Additional criteria.--In addition to the required criteria under subsection (a), the department shall consider the following criteria:
(1) Evidence of distress, including, but not limited to, unemployment, percentage of population below 80% of the State median income, poverty rate, deteriorated property and adverse economic and socioeconomic conditions in the proposed keystone opportunity zone or proposed keystone opportunity expansion zone.
(2) The strength and viability of the proposed goals, objectives and strategies in the opportunity plan.
(3) Whether the opportunity plan is creative and innovative in comparison to other applications.
(4) Local public and private commitment to the development of the proposed keystone opportunity zone or proposed keystone opportunity expansion zone and the potential cooperation of surrounding communities.
(5) Existing resources available to the proposed keystone opportunity zone or proposed keystone opportunity expansion zone.
(6) How keystone opportunity zone or keystone opportunity expansion zone authorization or economic redevelopment relates to other current economic and community development projects and to regional initiatives or programs.
(7) How the local regulatory burden will be eased for businesses operating in the proposed keystone opportunity zone or proposed keystone opportunity expansion zone.
(8) Proposals to implement educational opportunities and improvements.
(9) Crime statistics and proposals to implement local crime reduction measures.
(10) Proposals to establish and link job creation and job training.
(c) Tax exemption ordinances.--An area shall not be authorized as a keystone opportunity zone or a keystone opportunity expansion zone unless, as a part of the application, each political subdivision in which the proposed subzone or proposed expansion subzone is to be located adopts and provides a copy of an ordinance, resolution or other required action from the governing body of each political subdivision that exempts or provides deductions, abatements or credits to qualified persons and qualified businesses from local taxes upon designation of the area as a subzone or expansion subzone. All appropriate ordinances and resolutions shall be effective on or before January 1, 1999, if designation as a subzone is granted. All appropriate ordinances and resolutions shall be effective on January 1, 2001, if designation as an expansion subzone is granted. All appropriate ordinances and resolutions shall be effective January 1, 2004, if designation of enhancements to a subzone or expansion subzone are granted. Except as provided in section 309,1 the resolution, ordinance or other required action shall be binding and nonrevocable on the qualified political subdivisions for the duration of the opportunity plan.
(d) Urban areas.--The department shall promulgate guidelines that include the definition of “urban area” for the purposes of receiving applications for authorization as a keystone opportunity zone or keystone opportunity expansion zone.

Credits

1998, Oct. 6, P.L. 705, No. 92, § 304, imd. effective. Amended 2000, Dec. 20, P.L. 841, No. 119, § 4, imd. effective; 2002, Dec. 9, P.L. 1727, No. 217, § 4, imd. effective; 2003, Dec. 23, P.L. 360, No. 51, § 3, imd. effective.

Footnotes

1
73 P.S. § 820.309.
73 P.S. § 820.304, PA ST 73 P.S. § 820.304
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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