Bill Text: PA SB978 | 2009-2010 | Regular Session | Introduced

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Bill Title: Further providing for expansion for new parcels and for payments.

Spectrum: Slight Partisan Bill (Democrat 8-4)

Status: (Introduced - Dead) 2009-06-22 - Referred to FINANCE [SB978 Detail]

Download: Pennsylvania-2009-SB978-Introduced.html

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PRINTER'S NO. 1192
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 978 Session of2009
INTRODUCED BY DINNIMAN, O'PAKE, BOSCOLA, ERICKSON, COSTA, FONTANA, GREENLEAF, LOGAN AND STOUT, JUNE 22, 2009
REFERRED TO FINANCE, JUNE 22, 2009
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 expansion for new parcels and for
payments.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Sections 301.5(c) and 310 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), are amended to read:
Section 301.5. Expansion for new parcels.
* * *
(c) Applications for certain zones.--For a keystone
opportunity zone that expires December 31, 2008, but is seeking
an extension under section 301.3, the application shall include
the request for an expansion under subsection (a). The
application must be submitted by December 31, [2008] 2009, and
include all ordinances, resolutions or other required action
from all affected political subdivisions approving the addition
of the acreage. If the expiration of a keystone opportunity zone
is delayed under this subsection, a political subdivision or its
designee may apply for an extension under section 301.3 and an
expansion under this section. If an extension is granted under
section 301.3, the extension and the expansion shall be deemed
to be effective January 1, 2009.
* * *
Section 310. Payments.
The following shall apply to an agreement between a business
and a political subdivision entered into after the effective
date of this section in exchange for the approval of, or
otherwise relating to, the establishment of a keystone
opportunity zone, keystone opportunity expansion zone or
keystone opportunity improvement zone under this act, to include
an extension under section 301.2:
(1) Except as otherwise required or authorized by law, a
business may not provide payments to a political subdivision
in exchange for the approval of, or otherwise relating to,
the designation or extension of a keystone opportunity zone,
keystone opportunity expansion zone or keystone opportunity
improvement zone in excess of 110% of the amount of real
property taxes payable to the political subdivision for the
tax year immediately prior to the year in which the
designation or extension is granted. The limitation on
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payments set forth under this paragraph is waivable by the
parties and may increase by the percentage increase in the
payments that would occur if the property was not exempt from
local real property taxes.
(2) Except as provided under paragraph (3), payments
made under paragraph (1) may be increased based on a taxpayer
assessment appeal or as necessary to correct any errors or
omissions in the county's assessment records. Payments may be
increased following a countywide reassessment based on
improvements to the property made prior to the approval of
the designation or expansion.
(3) Payments may not be increased for the duration of
the designation or expansion based on an increase in the
assessed value of property due to improvements to the
property made subsequent to designation.
(4) Any agreement to make payments under this section
shall be in writing and approved by a majority vote of the
governing body of the political subdivision at a meeting that
is subject to 65 Pa.C.S. Ch. 7 (relating to open meetings).
Section 2. This act shall take effect in 60 days.
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