PRIOR PRINTER'S NOS. 2094, 2362 PRINTER'S NO. 2387
No. 1478 Session of 2002
INTRODUCED BY D. WHITE, WOZNIAK, TARTAGLIONE, ERICKSON,
KUKOVICH, LAVALLE, PUNT, COSTA, BOSCOLA, A. WILLIAMS, O'PAKE,
DENT, TOMLINSON, STACK, STOUT, WAUGH, CONTI, SCARNATI,
C. WILLIAMS, WENGER, MOWERY, ORIE, SCHWARTZ, KITCHEN, GERLACH
AND KASUNIC, JUNE 17, 2002
AS AMENDED ON THIRD CONSIDERATION, NOVEMBER 18, 2002
AN ACT
1 Amending the act of October 6, 1998 (P.L.705, No.92), entitled,
2 as amended, "An act providing for the creation of keystone
3 opportunity zones and keystone opportunity expansion zones to
4 foster economic opportunities in this Commonwealth, to
5 facilitate economic development, stimulate industrial,
6 commercial and residential improvements and prevent physical
7 and infrastructure deterioration of geographic areas within
8 this Commonwealth; authorizing expenditures; providing tax
9 exemptions, tax deductions, tax abatements and tax credits;
10 creating additional obligations of the Commonwealth and local
11 governmental units; and prescribing powers and duties of
12 certain State and local departments, agencies and officials,"
13 further providing for keystone opportunity zones, for
14 keystone opportunity expansion zones, for application, for
15 review, for criteria for authorization of keystone
16 opportunity zone, for qualified businesses, for tax credit
17 determination and for expiration of act.
18 The General Assembly of the Commonwealth of Pennsylvania
19 hereby enacts as follows:
20 Section 1. Sections 301, 301.1, 302, 303, 304(c), 307(b),
21 518(e), 519(e) and 1309 of the act of October 6, 1998 (P.L.705,
22 No.92), known as the Keystone Opportunity Zone and Keystone
23 Opportunity Expansion Zone Act, amended or added December 20,
24 2000 (P.L.841, No.119), are amended to read:
1 Section 301. Keystone opportunity zones.
2 (a) Establishment.--There is hereby established within the
3 department a program providing for keystone opportunity zones. A
4 keystone opportunity zone shall be comprised of deteriorated
5 property and shall not exceed a total of 5,000 acres.
6 (b) Zone authorization.--The department shall authorize not
7 more than 12 keystone opportunity zones in this Commonwealth.
8 Persons and businesses within an authorized keystone opportunity
9 zone that are qualified under this act shall be entitled to all
10 tax exemptions, deductions, abatements or credits set forth in
11 this act for a period not to exceed 15 years beginning January
12 1, 1999, or at the time the qualified person or business begins
13 active conduct of its trade or business, whichever occurs later,
14 and ending on or before December 31, [2013] 2028, PENDING THE <--
15 APPROVAL OF THE EXTENSION TO DECEMBER 31, 2028, BY EACH
16 POLITICAL SUBDIVISION IN THE KEYSTONE OPPORTUNITY ZONE WITHIN
17 ONE YEAR AFTER THE EFFECTIVE DATE OF SUBSECTION (F).
18 (C) SUBZONE DESIGNATION.--THE DEPARTMENT MAY DESIGNATE NOT
19 MORE THAN 12 SUBZONES IN EACH KEYSTONE OPPORTUNITY ZONE. THE
20 TOTAL NUMBER OF SUBZONE ACRES IN A KEYSTONE OPPORTUNITY ZONE
21 SHALL NOT EXCEED 5,000 ACRES IN THE AGGREGATE.
22 (D) AUTHORIZATION FOR LOCAL TAX EXEMPTION.--EVERY POLITICAL
23 SUBDIVISION WITHIN WHICH A PROPOSED SUBZONE IS LOCATED, WHETHER
24 IN WHOLE OR IN PART, IS HEREBY AUTHORIZED TO PROVIDE TAX
25 EXEMPTIONS, DEDUCTIONS, ABATEMENTS OR CREDITS TO PERSONS AND
26 BUSINESSES QUALIFIED UNDER THIS ACT. THE POLITICAL SUBDIVISION
27 SHALL AGREE TO PROVIDE EXEMPTIONS, DEDUCTIONS, ABATEMENTS OR
28 CREDITS FROM ALL LOCAL TAXES SET FORTH IN THIS ACT IN ORDER TO
29 QUALIFY TO BE DESIGNATED A SUBZONE. EXCEPT AS PROVIDED IN
30 SECTION 303(E), THE EXEMPTIONS, DEDUCTIONS, ABATEMENTS OR
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1 CREDITS SHALL BE EFFECTIVE JANUARY 1, 1999, IF DESIGNATION OF A
2 SUBZONE WITHIN THE POLITICAL SUBDIVISION IS GRANTED BY THE
3 DEPARTMENT. THE EXEMPTIONS, DEDUCTIONS, ABATEMENTS OR CREDITS
4 SHALL BE BINDING UPON THE POLITICAL SUBDIVISION FOR THE DURATION
5 OF THE SUBZONE DESIGNATION.
6 (E) AUTHORIZATION TO EXTEND THE DURATION OF A KEYSTONE
7 OPPORTUNITY ZONE OR SUBZONE.--A SUBZONE OF A KEYSTONE
8 OPPORTUNITY ZONE MAY REQUEST TO EXTEND ITS DESIGNATION AS A
9 SUBZONE FOR A PERIOD OF THREE YEARS. [A SUBZONE THAT IS PART OF
10 A KEYSTONE OPPORTUNITY ZONE THAT WILL EXPIRE ON DECEMBER 31,
11 2008, MAY EXTEND ITS DESIGNATION AS A SUBZONE TO DECEMBER 31,
12 2010, OR TO DECEMBER 31, 2013.] THE REQUEST TO EXTEND A SUBZONE
13 DESIGNATION SHALL BE MADE ON A SUBZONE-BY-SUBZONE BASIS. A
14 QUALIFIED POLITICAL SUBDIVISION HAVING AN APPROVED SUBZONE
15 WITHIN ITS JURISDICTION AND SEEKING TO EXTEND THE SUBZONE
16 DESIGNATION SHALL PASS THE REQUIRED ORDINANCES, RESOLUTIONS OR
17 OTHER REQUIRED ACTION OF THE QUALIFIED POLITICAL SUBDIVISION FOR
18 THE NECESSARY EXEMPTIONS, DEDUCTIONS, ABATEMENTS OR CREDITS
19 PURSUANT TO THIS ACT [FOR THE PERIOD BEGINNING AFTER DECEMBER
20 31, 2008, OR DECEMBER 31, 2010, AS THE CASE MAY BE,] AND SHALL
21 SUBMIT COPIES OF THE ORDINANCE, RESOLUTION OR OTHER ACTION TO
22 THE DEPARTMENT [BY JUNE 30, 2001]. THE DEPARTMENT MAY GRANT THE
23 REQUEST TO EXTEND PROVIDED ALL THE PROPER BINDING ORDINANCES,
24 RESOLUTIONS OR OTHER GOVERNING DOCUMENTS ARE PASSED BY ALL
25 QUALIFIED POLITICAL SUBDIVISIONS WITHIN THE SUBZONE EXTENDING
26 THE NECESSARY EXEMPTIONS, DEDUCTIONS, ABATEMENTS AND CREDITS TO
27 THE ENTIRE SUBZONE TO DECEMBER 31, [2010, OR DECEMBER 31, 2013]
28 2028; HOWEVER, NO ENTITY SHALL HAVE MORE THAN 15 YEARS OF TAX
29 RELIEF UNDER THIS ACT. THE DEPARTMENT [SHALL APPROVE OR DENY THE
30 REQUEST FOR EXTENSION OF DURATION OF A SUBZONE BY JULY 31, 2001,
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1 AND] SHALL PROVIDE WRITTEN NOTICE, IRRESPECTIVE OF WHETHER
2 APPROVED OR DENIED, TO EACH QUALIFIED POLITICAL SUBDIVISION,
3 RESIDENT AND QUALIFIED BUSINESS AFFECTED. UPON APPROVAL OF A
4 REQUEST FOR EXTENSION OF DURATION OF A SUBZONE, THE EXEMPTIONS,
5 DEDUCTIONS, ABATEMENTS OR CREDITS SHALL BE BINDING UPON THE
6 QUALIFIED POLITICAL SUBDIVISION AS PROVIDED IN SUBSECTION (D).
7 (F) AUTHORIZATION TO ALTER BOUNDARIES OF KEYSTONE
8 OPPORTUNITY ZONE.--
9 (1) A QUALIFIED POLITICAL SUBDIVISION HAVING AN APPROVED
10 SUBZONE WITHIN ITS JURISDICTION MAY APPLY TO THE DEPARTMENT
11 TO ALTER THE GEOGRAPHIC BOUNDARIES OF THE KEYSTONE
12 OPPORTUNITY ZONE WITHIN WHICH THE POLITICAL SUBDIVISION IS
13 LOCATED. IF MORE THAN ONE POLITICAL SUBDIVISION WOULD BE
14 AFFECTED BY THE BOUNDARY ALTERATION, THEN THE APPLICATION
15 MUST BE MADE JOINTLY BY THE AFFECTED POLITICAL SUBDIVISIONS.
16 THE APPLICATION SHALL CONTAIN:
17 (I) THE INFORMATION REQUIRED UNDER SECTION 302(A).
18 (II) EVIDENCE THAT EACH OWNER OF REAL ESTATE WITHIN
19 THE AFFECTED AREA APPROVES OF THE BOUNDARY ALTERATION.
20 THE TERM "OWNER OF REAL ESTATE" INCLUDES THE RECORD OWNER
21 OF REAL ESTATE, THE HOLDER OF AN OPTION EITHER TO
22 PURCHASE REAL ESTATE OR TO ENTER INTO A GROUND LEASE OF
23 REAL ESTATE AND A TENANT UNDER A GROUND LEASE OF REAL
24 ESTATE.
25 (2) THE DEPARTMENT MAY APPROVE THE REQUEST FOR
26 ALTERATION OF THE KEYSTONE OPPORTUNITY ZONE BOUNDARIES IF:
27 (I) THE REQUEST MEETS THE CRITERIA FOR AUTHORIZATION
28 UNDER SECTION 304.
29 (II) THE TOTAL NUMBER OF ACRES WITHIN THE KEYSTONE
30 OPPORTUNITY ZONE AS IT IS PROPOSED TO BE ALTERED DOES NOT
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1 DIFFER FROM THE TOTAL NUMBER OF ACRES WITHIN THAT
2 KEYSTONE OPPORTUNITY ZONE AS ORIGINALLY APPROVED.
3 (3) THE DEPARTMENT SHALL PROVIDE WRITTEN NOTICE OF ITS
4 DETERMINATION TO THE APPLICANT OR JOINT APPLICANTS.
5 (4) UPON APPROVAL OF A REQUEST FOR ALTERATION OF
6 KEYSTONE OPPORTUNITY ZONE BOUNDARIES, THE EXEMPTIONS,
7 DEDUCTIONS, ABATEMENTS OR CREDITS SHALL BE BINDING UPON A
8 POLITICAL SUBDIVISION AS PROVIDED IN SUBSECTION (D).
9 (G) APPLICABILITY.--
10 (1) A POLITICAL SUBDIVISION'S AUTHORITY TO RETRACT ITS
11 PREVIOUS PROVISION OF TAX EXEMPTIONS, DEDUCTIONS, ABATEMENTS
12 OR CREDITS TO PERSONS OR BUSINESSES QUALIFIED UNDER THIS ACT
13 SHALL NOT APPLY TO ANY PORTION OF A SUBZONE AS TO WHICH:
14 (I) ANY QUALIFIED BUSINESS HAS COMMENCED OPERATIONS
15 IN SUCH PORTION OF THE SUBZONE; OR
16 (II) ANY PROSPECTIVE PERSON OR COMPANY HAVING AN
17 INTEREST IN THE PROPERTY LOCATED IN THE SUBZONE OR
18 PORTION OF THE SUBZONE HAS INCURRED EXPENDITURES IN
19 RESPECT OF THE DEVELOPMENT OF THE PROPERTY IN AN AMOUNT
20 EQUAL TO AT LEAST $250,000 IN RELIANCE UPON THE PROPERTY
21 HAVING THE BENEFITS OF TAX EXEMPTIONS, DEDUCTIONS,
22 ABATEMENTS OR CREDITS.
23 (2) FOR PURPOSES OF THIS SUBSECTION, A PERSON OR COMPANY
24 HAVING AN INTEREST IN THE PROPERTY INCLUDES PERSONS HAVING
25 TITLE TO OR A LEASEHOLD INTEREST IN ALL OR A PORTION OF THE
26 PROPERTY OR HAVING AN OPTION TO ACQUIRE TITLE TO OR A
27 LEASEHOLD INTEREST IN ALL OR A PORTION OF THE PROPERTY.
28 SECTION 301.1. KEYSTONE OPPORTUNITY EXPANSION ZONES.
29 (A) ESTABLISHMENT.--THERE IS HEREBY ESTABLISHED WITHIN THE
30 DEPARTMENT A PROGRAM PROVIDING FOR KEYSTONE OPPORTUNITY
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1 EXPANSION ZONES. A KEYSTONE OPPORTUNITY EXPANSION ZONE SHALL BE
2 COMPRISED OF DETERIORATED PROPERTY AND SHALL NOT EXCEED A TOTAL
3 OF [1,500] 3,000 ACRES.
4 (B) AUTHORIZATION.--THE DEPARTMENT SHALL AUTHORIZE NOT MORE
5 THAN 12 KEYSTONE OPPORTUNITY EXPANSION ZONES IN THIS
6 COMMONWEALTH. PERSONS AND BUSINESSES WITHIN AN AUTHORIZED
7 KEYSTONE OPPORTUNITY EXPANSION ZONE THAT ARE QUALIFIED UNDER
8 THIS ACT SHALL BE ENTITLED TO ALL TAX EXEMPTIONS, DEDUCTIONS,
9 ABATEMENTS OR CREDITS SET FORTH IN THIS ACT FOR A PERIOD OF [TEN
10 OR 13] 15 YEARS BEGINNING JANUARY 1, 2001, OR AT THE TIME THE
11 QUALIFIED PERSON OR BUSINESS BEGINS ACTIVE CONDUCT OF ITS TRADE
12 OR BUSINESS, WHICHEVER OCCURS LATER, AND ENDING ON [DECEMBER 31,
13 2010, OR DECEMBER 31, 2013] OR BEFORE DECEMBER 31, 2028, PENDING <--
14 THE APPROVAL OF THE EXTENSION TO DECEMBER 31, 2028, BY EACH
15 POLITICAL SUBDIVISION IN THE KEYSTONE OPPORTUNITY ZONE WITHIN
16 ONE YEAR AFTER THE EFFECTIVE DATE OF SUBSECTION (C)(2).
17 (c) Expansion subzone designation.--[The]
18 (1) Except as set forth in paragraph (2), the department
19 may designate not more than eight expansion subzones in a
20 keystone opportunity expansion zone. The total number of
21 expansion subzone acres in a keystone opportunity expansion
22 zone under this paragraph shall not exceed 1,500 acres in the
23 aggregate.
24 (2) The department may designate not more than eight
25 additional expansion subzones in a keystone opportunity
26 expansion zone. The total number of expansion subzone acres
27 in a keystone opportunity expansion zone under this paragraph
28 shall not exceed 1,500 acres in the aggregate.
29 (d) Authorization for local tax exemption.--Every political
30 subdivision within which a proposed expansion subzone is
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1 located, whether in whole or in part, is hereby authorized to
2 provide tax exemptions, deductions, abatements or credits to
3 persons and businesses qualified under this act for a period
4 ending December 31, [2010, or December 31, 2013] 2028; however,
5 no entity shall have more than 15 years of tax relief under this
6 act. The exemption period shall be uniform within each expansion
7 subzone. The political subdivision shall agree to provide
8 exemptions, deductions, abatements or credits from all local
9 taxes set forth in this act in order to qualify to be designated
10 an expansion subzone. The exemptions, deductions, abatements or
11 credits shall be effective January 1, 2001, or January 1, 2003,
12 for expansion subzones under subsection (c)(2), if designation
13 of an expansion subzone within the political subdivision is
14 granted by the department. The exemptions, deductions,
15 abatements or credits shall be binding upon the political
16 subdivision for the duration of the expansion subzone
17 designation.
18 Section 302. Application.
19 (a) Initial application.--One or more political
20 subdivisions, or a designee of one or more political
21 subdivisions, may apply to the department to designate
22 deteriorated property within the political subdivision or
23 portions thereof a subzone or expansion subzone. The application
24 shall contain the following:
25 (1) The geographic area of the proposed keystone
26 opportunity zone or proposed keystone opportunity expansion
27 zone. The geographic area shall be located within the
28 boundaries of the participating political subdivision and
29 shall not contain more than 5,000 acres in the case of a
30 keystone opportunity zone or [1,500] 3,000 acres in the case
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1 of a keystone opportunity expansion zone.
2 (2) An opportunity plan that shall include the
3 following:
4 (i) A detailed map of the proposed keystone
5 opportunity zone or proposed keystone opportunity
6 expansion zone, including geographic boundaries, total
7 area and present use and conditions of the land and
8 structures of the proposed keystone opportunity zone or
9 proposed keystone opportunity expansion zone.
10 (ii) Evidence of support from and participation of
11 local government, school districts and other educational
12 institutions, business groups, community organizations
13 and the public.
14 (iii) A proposal to increase economic opportunity,
15 reduce crime, improve education, facilitate
16 infrastructure improvement, reduce the local regulating
17 burden and identify potential jobs and job training
18 opportunities and which states whether or not the zone is
19 located in an area which has tax revenue dedicated to the
20 payment of debt.
21 (iv) A description of the current social, economic
22 and demographic characteristics of the proposed keystone
23 opportunity zone or proposed keystone opportunity
24 expansion zone and anticipated improvements in education,
25 health, human services, public safety and employment that
26 will result from keystone opportunity zone or keystone
27 opportunity expansion zone designation.
28 (v) A description of anticipated activity in the
29 proposed keystone opportunity zone or proposed keystone
30 opportunity expansion zone, including, but not limited
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1 to, industrial use, industrial site reuse, commercial or
2 retail use and residential use.
3 (vi) Evidence of potential private and public
4 investment in the proposed keystone opportunity zone or
5 proposed keystone opportunity expansion zone.
6 (vii) The role of the proposed keystone opportunity
7 zone or proposed keystone opportunity expansion zone in
8 regional economic and community development.
9 (viii) Plans to utilize existing resources for the
10 administration of the proposed keystone opportunity zone
11 or proposed keystone opportunity expansion zone.
12 (ix) Any other information deemed appropriate by the
13 department.
14 (3) A report on youth at risk to include issues relating
15 to health, welfare and education.
16 (4) The duration of the proposed subzones or proposed
17 expansion subzones. [The duration of a subzone may not exceed
18 15 years. The duration of an expansion subzone may not exceed
19 13 years.]
20 (5) A formal, binding ordinance or resolution passed by
21 every political subdivision in which the proposed subzone or
22 proposed expansion subzone is located that specifically
23 provides for all local tax exemptions, deductions, abatements
24 or credits for persons and businesses set forth in this act.
25 (6) Evidence that the proposed keystone opportunity zone
26 or proposed keystone opportunity expansion zone meets the
27 required criteria under section 304.
28 (b) Participation limitation.--A political subdivision shall
29 not be a part of more than one proposed keystone opportunity
30 zone [or proposed keystone opportunity expansion zone]. A
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1 political subdivision shall not be part of more than two
2 proposed keystone opportunity expansion zones. A proposed
3 expansion subzone may not overlap the boundaries of a subzone.
4 (c) Application limitation.--A political subdivision may
5 submit [only one application] no more than two applications to
6 the department for authorization as [a] keystone opportunity
7 [zone] zones. A political subdivision may submit only one
8 application to the department for authorization as a keystone
9 opportunity expansion zone.
10 Section 303. Review.
11 (a) Action of department.--The department, in consultation
12 with the Department of Revenue, shall review all completed
13 applications submitted under this act. An application for
14 authorization as a keystone opportunity zone and designation of
15 subzones shall be received by the department on or before
16 September 30, 1998, in order to be considered by the department.
17 An application for authorization as a keystone opportunity
18 expansion zone and designation of expansion subzones under
19 section 301.1(c)(1) shall be received by the department on or
20 before February 28, 2001, in order to be considered by the
21 department. An application for designation of expansion subzones
22 under section 301.1(c)(2) shall be received by the department on
23 or before July 1, 2003, in order to be considered by the
24 department.
25 (b) Process.--The department shall authorize up to 12
26 keystone opportunity zones from applications meeting the
27 criteria in section 304 based upon need and likelihood of
28 success. The department shall authorize up to 12 keystone
29 opportunity expansion zones from applications meeting the
30 criteria in section 304 based upon need and likelihood of
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1 success. Additionally, the department shall not alter the
2 geographic boundaries of a subzone or expansion subzone or the
3 duration of a subzone or expansion subzone described in an
4 application.
5 (c) Authorizations.--The department shall authorize all
6 keystone opportunity zones by November 30, 1998. The department
7 shall authorize all keystone opportunity expansion zones by
8 March 30, 2001.
9 (d) Effective date of designation.--The designation of a
10 subzone under this act shall take effect on January 1, 1999. The
11 designation of an expansion subzone under [this act] section
12 301.1(c)(1) shall take effect on January 1, 2001. The
13 designation of an expansion subzone under section 301.1(c)(2)
14 shall take effect January 1, 2004.
15 (e) Extension.--The department may extend the deadline for
16 the receipt of applications for keystone opportunity zones until
17 December 31, 1998, if all 12 zones have not been authorized and
18 the extension is necessary to allow eligible political
19 subdivisions to apply. The department shall authorize additional
20 keystone opportunity zones under this subsection by February 28,
21 1999. The authorization shall take effect January 1, 1999, or if
22 the authorization occurs after January 1, 1999, that subsequent
23 authorization shall for all purposes be retroactive to January
24 1, 1999. The keystone opportunity zone authorization shall end
25 as provided in section 301(b).
26 Section 304. Criteria for authorization of keystone opportunity
27 zone.
28 * * *
29 (c) Tax exemption ordinances.--An area shall not be
30 authorized as a keystone opportunity zone or a keystone
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1 opportunity expansion zone unless, as a part of the application,
2 each political subdivision in which the proposed subzone or
3 proposed expansion subzone is to be located adopts and provides
4 a copy of an ordinance, resolution or other required action from
5 the governing body of each political subdivision that exempts or
6 provides deductions, abatements or credits to qualified persons
7 and qualified businesses from local taxes upon designation of
8 the area as a subzone or expansion subzone. All appropriate
9 ordinances and resolutions shall be effective on or before
10 January 1, 1999, if designation as a subzone is granted. All
11 appropriate ordinances and resolutions shall be effective on
12 January 1, 2001, or January 1, 2003, as the case may be, if
13 designation as an expansion subzone is granted. The resolution,
14 ordinance or other required action shall be binding and
15 nonrevocable on the qualified political subdivisions for the
16 duration of the opportunity plan.
17 * * *
18 Section 307. Qualified businesses.
19 * * *
20 (b) Relocation.--Any business that relocates from outside a
21 subzone or expansion subzone into a subzone or expansion subzone
22 shall not receive any of the exemptions, deductions, abatements
23 or credits set forth in this act unless that business either:
24 (1) increases full-time employment by at least 20% in
25 the first full year of operation within the subzone or
26 expansion subzone; or
27 (2) makes, or has its landlord make, a capital
28 investment in the property located within a subzone or
29 expansion subzone equivalent to 10% of the gross revenues [of
30 that business] attributable to the operations of the business
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1 at the location from which it relocated into the subzone or
2 expansion subzone in the immediately preceding calendar or
3 fiscal year.
4 The department, in consultation with the Department of Revenue,
5 may waive or modify the requirements of this subsection, as
6 appropriate.
7 Section 518. Keystone opportunity zone job tax credit or
8 keystone opportunity expansion zone job tax
9 credit.
10 * * *
11 (e) Credit determinations.--The keystone opportunity zone
12 job tax credit or keystone opportunity expansion zone job tax
13 credit shall be determined by multiplying the monthly average of
14 all full-time jobs by the allowance. The allowance for purposes
15 of the keystone opportunity zone job tax credit or keystone
16 opportunity expansion zone job tax credit for taxable years
17 beginning within the dates set forth shall be as follows:
18 January 1, 2001, to
19 December 31, 2001 $500 per job
20 January 1, 2002, to
21 December 31, 2002 $750 per job
22 January 1, 2003, to
23 December 31, 2003 $1,000 per job
24 January 1, 2004, to
25 [December 31, 2004 $1,250 per job
26 January 1, 2005, to
27 December 31, 2005 $1,250 per job
28 January 1, 2006, to
29 December 31, 2006 $1,250 per job
30 January 1, 2007, to
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1 December 31, 2007 $1,250 per job
2 January 1, 2008, to
3 December 31, 2008 $1,250 per job
4 January 1, 2009, to
5 December 31, 2009 $1,250 per job
6 January 1, 2010, to
7 December 31, 2010 $1,250 per job
8 January 1, 2011, to
9 December 31, 2011 $1,250 per job
10 January 1, 2012, to
11 December 31, 2012 $1,250 per job
12 January 1, 2013, to
13 December 31, 2013 $1,250 per job]
14 December 31, 2028 $1,250 per job
15 per year
16 * * *
17 Section 519. Keystone opportunity zone job creation tax credit
18 or keystone opportunity expansion zone job
19 creation tax credit.
20 * * *
21 (e) Credit determinations.--The keystone opportunity zone
22 job tax credit or keystone opportunity expansion zone job tax
23 credit shall be determined by multiplying the monthly average of
24 all full-time jobs by the allowance. The allowance for purposes
25 of the keystone opportunity zone job tax credit or keystone
26 opportunity expansion zone job tax credit for taxable years
27 beginning within the dates set forth shall be as follows:
28 January 1, 2001, to
29 December 31, 2001 $500 per job
30 January 1, 2002, to
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1 December 31, 2002 $750 per job
2 January 1, 2003, to
3 December 31, 2003 $1,000 per job
4 January 1, 2004, to
5 [December 31, 2004 $1,250 per job
6 January 1, 2005, to
7 December 31, 2005 $1,250 per job
8 January 1, 2006, to
9 December 31, 2006 $1,250 per job
10 January 1, 2007, to
11 December 31, 2007 $1,250 per job
12 January 1, 2008, to
13 December 31, 2008 $1,250 per job
14 January 1, 2009, to
15 December 31, 2009 $1,250 per job
16 January 1, 2010, to
17 December 31, 2010 $1,250 per job
18 January 1, 2011, to
19 December 31, 2011 $1,250 per job
20 January 1, 2012, to
21 December 31, 2012 $1,250 per job
22 January 1, 2013, to
23 December 31, 2013 $1,250 per job]
24 December 31, 2028 $1,250 per job
25 per year
26 * * *
27 Section 1309. Expiration.
28 This act and all benefits associated with this act shall
29 terminate December 31, [2013] 2028.
30 Section 2. This act shall take effect immediately.
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