H2297B3347A06328       SFL:JSL 03/17/08    #90             A06328
                       AMENDMENTS TO HOUSE BILL NO. 2297
                                    Sponsor:  REPRESENTATIVE ARGALL
                                           Printer's No. 3347

     1       Amend Title, page 1, line 12, by inserting after
     2    "officials,""
     3               further providing for legislative findings;
     4       Amend Title, page 1, line 15, by striking out "and" where it
     5    appears the first time
     6       Amend Title, page 1, line 16, by removing the period after
     7    "tax" and inserting
     8               ; and providing for duties of the department.
     9       Amend Bill, page 1, lines 19 through 22, by striking out all
    10    of said lines and inserting
    11       Section 1.  Section 102 of the act of October 6, 1998
    12    (P.L.705, No.92), known as the Keystone Opportunity Zone,
    13    Keystone Opportunity Expansion Zone and Keystone Opportunity
    14    Improvement Zone Act, amended December 20, 2000 (P.L.841,
    15    No.119), is amended to read:
    16    Section 102.  Legislative findings.
    17           (1)  There exist in this Commonwealth areas of economic
    18       distress characterized by high unemployment, low investment
    19       of new capital, inadequate dwelling conditions, blighted
    20       conditions, underutilized, obsolete or abandoned industrial,
    21       commercial and residential structures and deteriorating tax
    22       bases.
    23           (2)  These areas require coordinated efforts by private
    24       and public entities to restore prosperity and enable the
    25       areas to make significant contributions to the economic and
    26       social life of this Commonwealth.
    27           (3)  Long-term economic viability of these areas requires
    28       the cooperative involvement of residents, businesses, State
    29       and local elected officials and community organizations and
    30       requires additional personnel for rural areas lacking good
    31       economic development prospects. It is in the best interest of
    32       the Commonwealth to assist and encourage the creation of
    33       keystone opportunity zones and keystone opportunity expansion
    34       zones and to provide temporary relief from certain taxes

     1       within the zones to accomplish the purposes of this act.
     2       Section 1.1.  The act is amended by adding sections to read:

     3       Amend Bill, page 7, by inserting between lines 9 and 10
     4       Section 4.  The act is amended by adding a section to read:
     5    Section 1101.1.  Duties of department.
     6       The department shall provide, upon request, the appropriate
     7    staff to rural areas to implement keystone opportunity zones.

     8       Amend Sec. 4, page 7, line 10, by striking out "4" and
     9    inserting
    10               5
    11       Amend Sec. 5, page 7, line 12, by striking out "5" and
    12    inserting
    13               6













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