Title
Amending Chapter 19-3200, entitled "Keystone Opportunity Zone," by renaming said Chapter "Keystone Opportunity Zone and Economic Development District," to provide for the contingent exemption, abatement or credit of certain taxes within a specified geographical area, under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-3200 of The Philadelphia Code is amended to read as follows:
CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE AND ECONOMIC DEVELOPMENT DISTRICT.
§19-3201. Designation of Zone.
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(4) The area of the City generally known as follows, and more fully defined in Section 2 of the ordinance enacting this subsection, shall be designated as the Philadelphia Economic Development District or the Economic Development District:
(a) Navy Yard (East).
§19-3202. Definitions.
The following words and phrases when used in this Chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
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(5.1) EDD Act. The First Class Cities Economic Development District Act, Act of December 1, 2004, No. 226.
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(13) "Zone." The Philadelphia Keystone Opportunity Zone, the Philadelphia Keystone Opportunity Expansion Zone, [or] the Philadelphia Keystone Opportunity Improvement Zone or the Philadelphia Economic Development District.
§19-3203. Authorization of Exemption, Abatement or Credits from Certain Taxes.
(a) Effective as of January 1, 1999, and continuing through and including December 31, 2010, with respect to real property or business activity, as applicable, attributable to the Keystone Opportunity Zone; (b) effective as of January 1, 2001, and continuing through and including December 31, 2013, with respect to real property or business activity, as applicable, attributable to the Keystone Opportunity Expansion Zone; [and] (c) with respect to real property or business ac...
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