Bill Would Block Companies from Getting Second Round of Keystone Opportunity Zone Tax Breaks
A bill in the Pennsylvania House of Representatives would prohibit companies from collecting a second round of lucrative Keystone Opportunity Zone tax breaks if they move from an expired zone to a new one.
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The bill allows exceptions if moving from an expired zone “is necessary to meet the expansion or operational needs of the business and the business anticipates a significant financial impact on the zone into which the business is relocating.”
That makes sense, said Peter Kelsen, a real estate lawyer at Blank Rome LLP. “You want to have the ability for some level of discretion,” he said.
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“Bill Would Block Companies from Getting Second Round of Keystone Opportunity Zone Tax Breaks,” by Harold Brubaker was published in The Philadelphia Inquirer on May 24, 2021.