Section 701. Local taxes.
(a) General rule.--Every political subdivision in which a designated subzone is located shall exempt, deduct, abate or credit local taxes in accordance with ordinances and resolutions adopted under section 301(d) or (f), as is applicable. Failure to exempt, deduct, abate or credit local taxes shall result in the revocation of the subzone designation.
(b) Expansion rule.--Every political subdivision in which a designated expansion subzone is located shall exempt, deduct, abate or credit local taxes in accordance with ordinances and resolutions adopted under section 301.1(d) or (e), as is applicable. Failure to exempt, deduct, abate or credit local taxes shall result in the revocation of the expansion subzone designation.
(c) Improvement rule.--Every political subdivision in which a designated improvement subzone is located shall exempt, deduct, abate or credit local taxes in accordance with ordinances and resolutions adopted under section 301.2(d). Failure to exempt, deduct, abate or credit local taxes shall result in the revocation of the improvement subzone designation.
(701 amended Dec. 9, 2002, P.L.1727, No.217)