(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
(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). 1
(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. 2
(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.
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