Bill Sent To Committee
May 12, 2008
May 7, 2008(Key vote)
Title: Expansion of the Keystone Opportunity Zone
Vote Smart's Synopsis:
Vote to pass an amendment that extends and expands tax credits for the Keystone Opportunity Zone and the Keystone Opportunity Expansion Zone.
-Requires that the properties must be unoccupied and declared deteriorated on a basis other than being underutilized before the extensions of deductions are granted (Sec.1).
-States that the length of an extension will vary depending on how long a property is occupied (Sec. 1).
-Authorizes the approval of additional subzones that are at least 10 acres and less than 350 acres, are unoccupied, create at least 1,400 full-time jobs, and make a capital investment of $750,000 (Sec. 1).