Bill Text: PA SB764 | 2011-2012 | Regular Session | Introduced

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Bill Title: Further providing for extension for unoccupied parcels.

Spectrum: Moderate Partisan Bill (Democrat 7-1)

Status: (Introduced - Dead) 2011-03-07 - Referred to FINANCE [SB764 Detail]

Download: Pennsylvania-2011-SB764-Introduced.html

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PRINTER'S NO. 779
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 764 Session of2011
INTRODUCED BY STACK, FONTANA, SOLOBAY, COSTA, D. WHITE, WILLIAMS, FERLO AND FARNESE, MARCH 7, 2011
REFERRED TO FINANCE, MARCH 7, 2011
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,"
further providing for extension for unoccupied parcels.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 301.3(c) of 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, added July 10, 2008 (P.L.1014, No.79), is
amended to read:
Section 301.3. Extension for unoccupied parcels.
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(c) Application.--Except as provided in subsection (d), in
order to extend the tax benefits for unoccupied parcels under
subsection (a), the department must receive an application from
a political subdivision or its designee no later than [June 30,
2009] December 31, 2011. The application must contain the
information required under section 302(a)(1), (2), (3), (5) and
(6). The application must include all ordinances, resolutions or
other required action adopted by all political subdivisions in
which the unoccupied parcel is located adopting the extension of
all tax exemptions, deductions, abatements and credits
authorized under Chapter 7. The department, in consultation with
the Department of Revenue, shall review the application and, if
approved, issue a certification of all tax exemptions,
deductions, abatements or credits under this part for the
unoccupied parcel within three months of receipt of the
application. The certification shall be effective on the day
following the expiration date of the existing subzone.
* * *
Section 2. This act shall take effect immediately.
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