Section 820.301g - Expansion for new job creation(a) Expansion.--The department may approve an application to expand the area of a keystone opportunity zone, keystone opportunity expansion zone or keystone opportunity improvement zone or subzone to include additional parcels that are deteriorated, underutilized or unoccupied on the effective date of this section and which are contiguous to the existing zone not to exceed 15 acres if the expansion approval is expected to increase job creation or capital investment. All exemptions, deductions, abatements and credits under this act shall be extended to the new parcels for a period of ten years following approval of the expansion of the keystone opportunity zone, keystone opportunity expansion zone or keystone opportunity improvement zone.
(b) Application.--The following shall apply:
(1) In order to extend the tax exemptions, deductions, abatements and credits under this act to additional parcels under subsection (a), the department must receive an application from a political subdivision or its designee by October 1, 2012.(2) The application under paragraph (1) must: (i) Contain the information required under section 302(a)(1), (2), (3), (5) and (6).(ii) Include all ordinances, resolutions or other required action adopted by all political subdivisions in which the unoccupied, deteriorated or underutilized parcel is located adopting the expansion of the zone and the extension of all tax exemptions, deductions, abatements and credits authorized under Chapter 7.(3) 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 chapter for the unoccupied parcel within three months of receipt of the application.(4) The certification under paragraph (3) shall be effective ten days following designation of the expansion by the department. (c) Expiration.--All expansions of an unoccupied parcel certified under subsection (b) shall expire no later than ten years following the effective date of certification by the department.
Added by P.L. 183 2012 No. 16, § 2, eff. 2/14/2012.