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PENNSYLVANIA STATUTES
TITLE 73. TRADE AND COMMERCE
CHAPTER 16B. PENNSYLVANIA KEYSTONE OPPORTUNITY ZONE ACT
CHAPTER 9. ADMINISTRATION OF TAX PROVISIONS
Date:
08/31/2009
Document:
NOTICE: For expiration of this section on December 31, 2018, see 73 P.S. § 820.1309.
§ 820.902. Recapture
(a) GENERAL RULE.-- If any qualified business located within a subzone, improvement subzone or expansion subzone has received an exemption, deduction, abatement or credit under this act and subsequently relocates outside of the zone within the first five years of locating in a subzone, improvement subzone or expansion subzone, that business shall refund to the State and political subdivision 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 subzone, improvement subzone or expansion
subzone, 66% of all the exemptions, deductions, abatements or credits
attributed to that qualified business's participation in the subzone,
improvement subzone or expansion subzone shall be refunded to the
Commonwealth and the political subdivision.
(2) If a qualified business relocates within three to five years from
the date of first locating in a subzone, improvement subzone or
expansion subzone, 33% of all exemptions, deductions, abatements or
credits attributed to that qualified business's participation in the
subzone, improvement subzone or expansion subzone shall be refunded to
the Commonwealth and the political subdivision.
(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, in consultation with the Department of Revenue and the political subdivision, 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.
(c) Deleted by 2000, Dec. 20, P.L. 841, No. 119, § 6, imd. effective.
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