PRINTER'S NO. 2731
No. 2075 Session of 2003
INTRODUCED BY ROBERTS, DeWEESE, BASTIAN, CRAHALLA, FABRIZIO,
FAIRCHILD, GEORGE, GERGELY, GOODMAN, JAMES, KELLER, KOTIK,
LEVDANSKY, McNAUGHTON, O'NEILL, RUBLEY, SCRIMENTI, SHANER,
SOLOBAY, THOMAS, TIGUE, WILT AND YOUNGBLOOD, OCTOBER 7, 2003
REFERRED TO COMMITTEE ON COMMERCE, OCTOBER 7, 2003
AN ACT
1 Amending the act of October 6, 1998 (P.L.705, No.92), entitled,
2 as amended, "An act providing for the creation of keystone
3 opportunity zones and keystone opportunity expansion zones to
4 foster economic opportunities in this Commonwealth, to
5 facilitate economic development, stimulate industrial,
6 commercial and residential improvements and prevent physical
7 and infrastructure deterioration of geographic areas within
8 this Commonwealth; authorizing expenditures; providing tax
9 exemptions, tax deductions, tax abatements and tax credits;
10 creating additional obligations of the Commonwealth and local
11 governmental units; and prescribing powers and duties of
12 certain State and local departments, agencies and officials,"
13 further providing for real property tax.
14 The General Assembly of the Commonwealth of Pennsylvania
15 hereby enacts as follows:
16 Section 1. Section 702 of the act of October 6, 1998
17 (P.L.705, No.92), known as the Keystone Opportunity Zone and
18 Keystone Opportunity Expansion Zone Act, is amended by adding a
19 subsection to read:
20 Section 702. Real property tax.
21 * * *
22 (a.3) Exception.--Subsections (a), (a.1) and (a.2) shall not
1 apply to residential real property. In the case of real property
2 that has more than one purpose, subsections (a), (a.1) and (a.2)
3 shall not apply to the portion used for residential purposes.
4 * * *
5 Section 2. This act shall take effect in 60 days.
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