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PRINTER'S NO. 632
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
559
Session of
2015
INTRODUCED BY KAUFFMAN, TOPPER, DAVIDSON, CALTAGIRONE, RAPP,
MURT, SAYLOR, GRELL, DeLUCA, GABLER AND M. K. KELLER,
FEBRUARY 23, 2015
REFERRED TO COMMITTEE ON COMMERCE, FEBRUARY 23, 2015
AN ACT
Amending the act of October 6, 1998 (P.L.705, No.92), entitled,
as amended, "An act providing for the creation of keystone
opportunity zones and keystone opportunity expansion zones to
foster economic opportunities in this Commonwealth, to
facilitate economic development, stimulate industrial,
commercial and residential improvements and prevent physical
and infrastructure deterioration of geographic areas within
this Commonwealth; authorizing expenditures; providing tax
exemptions, tax deductions, tax abatements and tax credits;
creating additional obligations of the Commonwealth and local
governmental units; and prescribing powers and duties of
certain State and local departments, agencies and officials,"
in keystone opportunity zones, providing for keystone
opportunity expansion zones for job creation.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of October 6, 1998 (P.L.705, No.92),
known as the Keystone Opportunity Zone, Keystone Opportunity
Expansion Zone and Keystone Opportunity Improvement Zone Act, is
amended by adding a section to read:
Section 301.8. Keystone opportunity expansion zones for job
creation.
(a) Establishment.--In addition to any designations under
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section 301.1, the department may designate up to 10 additional
keystone opportunity expansion zones that will create new jobs
in accordance with this section. Each additional keystone
opportunity expansion zone shall:
(1) Not be less than 10 acres in size unless contiguous
to an existing zone.
(2) Not exceed in the aggregate a total of 400 acres.
(3) Be comprised of parcels that are deteriorated,
underutilized or unoccupied on the effective date of this
section.
(b) Authorization.--A person or business within a keystone
opportunity expansion zone authorized under subsection (a) shall
be entitled to the tax exemptions, deductions, abatements or
credits set forth under this act, exemptions for sales and use
tax under section 511(a) or 705(a), for a period of no more than
10 years and no less than five years. For a keystone opportunity
expansion zone that will create new jobs and is established
under subsection (a), the authorized period shall begin on July
1, 2015. An exemption for sales and use taxes under sections 511
and 705 shall commence upon designation of the zone by the
department.
(c) Application and review.--In order to receive a
designation under subsection (a), the department must receive an
application from a political subdivision or its designee no
later than March 1, 2016. The application must contain the
information required under section 302(a)(1), (2)(i) and (ix)
and (6). The application must include the ordinances,
resolutions or other required action adopted by the political
subdivisions in which the keystone opportunity expansion zone is
located. The department, in consultation with the Department of
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Revenue, shall review the application and, if approved, issue a
certification of the tax exemptions, deductions, abatements or
credits under this act for the keystone opportunity expansion
zone within three months of receipt of the application. The
department shall act on an application for a designation under
section 304(a)(10) by June 30, 2016. The department may make a
designation under this section on a rolling basis during the
application period.
(d) Notice.--Upon designation under this section, the
department shall immediately notify a political subdivision
located within the area designated.
Section 2. This act shall take effect in 60 days.
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