S1412B2141A08125       SFL:JMM 06/27/08    #90             A08125
                       AMENDMENTS TO SENATE BILL NO. 1412
                                    Sponsor:  SENATOR FUMO
                                           Printer's No. 2141

     1       Amend Sec. 2 (Sec. 301.4), page 7, by inserting between lines 
     2    13 and 14
     3       (d)  Prohibition.--The department shall be prohibited from
     4    designating any parcel of land within a city of the first class
     5    as a keystone opportunity zone, keystone opportunity expansion
     6    zone, keystone opportunity improvement zone or a keystone
     7    opportunity innovation zone if any project involving a parcel,
     8    within a 1,001-foot radius as measured from the center of the
     9    proposed parcel to be designated, has received or has been
    10    designated to receive in excess of $20,000,000 in funding from
    11    the Commonwealth within the last four years. The department
    12    shall be prohibited from providing any State financial
    13    assistance, including loans, grants or any tax abatements,
    14    credits, deductions or exemptions provided under this act or any
    15    other State law to a parcel located within the area described in
    16    this subsection nor shall the department or the governing body
    17    of the city of the first class provide any tax exemption,
    18    deduction, abatement, credit or other tax benefit under the act
    19    of December 1, 1977 (P.L.237, No.76), known as the Local
    20    Economic Revitalization Tax Assistance Act, for any project
    21    involving a parcel located within the area described in this
    22    subsection.