(a) The exemption set forth in Section 880.01 shall be 100 percent of the real estate tax on the assessed valuation of a property within the proposed Keystone Opportunity Zone.
(b) The City shall also waive business gross receipts tax for operations conducted by a qualified business and earned income tax on income received by a resident and/or on net profits of a qualified business received by a resident or nonresident of the proposed Keystone Opportunity Zone attributable to business activity conducted within the proposed Keystone Opportunity Zone.
(Res. 228-98. Passed 11-24-98.)