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PENNSYLVANIA STATUTES
TITLE 72. TAXATION AND FISCAL AFFAIRS
CHAPTER 5. TAX REFORM CODE OF 1971
ARTICLE XXIX-C. STRATEGIC DEVELOPMENT AREAS
PART IX. ADMINISTRATION OF TAX PROVISIONS
Date:
08/31/2009
Document:
NOTICE: Pursuant to 72 P.S. § 9979-C, this Article shapp terminate on December 31, 2022.
§ 9952-C. Recapture
(a) GENERAL RULE.-- If any qualified business located within a strategic development area has received an exemption, deduction, abatement or credit under this article and subsequently relocates outside of the strategic development area within the first five years of locating in a strategic development area, that business shall refund to the State, which granted the exemption, deduction, abatement or credit received, in accordance with the following:
(1) If a qualified business relocates within three years from the date
of first locating in a strategic development area, 66% of all the
exemptions, deductions, abatements or credits attributed to that
qualified business's participation in the strategic development area
shall be refunded to the Commonwealth.
(2) If a qualified business relocates within three to five years from
the date of first locating in a strategic development area, 33% of all
exemptions, deductions, abatements or credits attributed to that
qualified business's participation in the strategic development area
shall be refunded to the Commonwealth.
(3) If the qualified business was located within a facility operated by
a nonprofit organization to assist in the creation and development of a
start-up business, no exemption, deduction, abatement or credit shall
be refunded.
(b) WAIVER.-- The department may waive or modify recapture requirements under this section if the department determines that the business relocation was due to circumstances beyond the control of the business, including, but not limited to:
(1) natural disaster;
(2) unforeseen industry trends; or
(3) loss of a major supplier or market.
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