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Pennsylvania State Senate
04/25/2024 02:21 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=20650
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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: August 29, 2016 04:17 PM
From: Senator Bob Mensch
To: All Senate members
Subject: Keystone Opportunity Zone Act Amendment
 
I plan to introduce legislation to amend the Keystone Opportunity Zone Act.

My legislation would stop the practice of businesses moving from office building to office building, particularly in Philadelphia, located in different KOZ’s to avoid paying taxes long after the ten year KOZ period has expired.

In addition, my legislation would establish ten new zones in the Commonwealth. While zones were authorized in this year’s Tax Code, the Budget Office has determined that no funds for tax abatement were set aside in the 2016-2017 budget. These new zones would be effective 2018 to allow for the appropriate budgeting for these zone.

Should you wish to be a co-sponsor, please notify my office.