Section 902. Recapture.
(a) General rule.--If a qualified business located within an economic development district has received an exemption, deduction, abatement or credit under this act and subsequently relocates outside of the economic development district during the period the property is designated an economic development district, the business shall refund to the Commonwealth and the qualified political subdivisions which granted the exemption, deduction, abatement or credit, in accordance with the following:
(1) If the qualified business relocates within three
years from the date of first locating in the economic
development district, 75% of all the exemptions, deductions,
abatements or credits attributed to the qualified business's
participation in the economic development district shall be
refunded to the Commonwealth and the qualified political
subdivisions.
(2) If a qualified business relocates within four to
seven years from the date of first locating in the economic
development district, 50% of all exemptions, deductions,
abatements or credits attributed to the qualified business's
participation in the economic development district shall be
refunded to the Commonwealth and the qualified political
subdivisions.
(3) If the qualified business was located within a
facility operated by a nonprofit organization for food
distribution, no exemption, deduction, abatement or credit
shall be refunded.
(b) Waiver.--The department, in consultation with the department of Revenue and the qualified political subdivisions, may waive or modify the recapture requirements under this section if the department determines that the qualified business relocation was due to any of the following:
(1) Natural disaster.
(2) Unforeseen industry trends.
(3) Loss of a major supplier or market.