City of Philadelphia - File #: 030561

• File #: 030561
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 9/11/2003
• In control: Committee on Commerce & Economic Development
• Final action: 10/16/2003
• Title: Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is given to certain businesses that contribute monies to community development corporations undertaking economic development activities within the City of Philadelphia; all under certain terms and conditions.
• Sponsors: Councilmember Goode, Councilmember Reynolds Brown, Councilmember Blackwell
• Indexes: BUSINESS PRIVILEGE TAX
• Code sections: 19-2600 - Business Privilege Tax, 19-2604 - Tax Rates, Credits, and Alternative Tax Computation

Date	Ver.	Action By	Action	Result	Tally
10/30/2003	0	MAYOR	SIGNED
10/16/2003	0	CITY COUNCIL	READ
10/16/2003	0	CITY COUNCIL	PASSED	Pass	16:0
10/9/2003	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
10/9/2003	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
10/9/2003	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
10/7/2003	0	Committee on Commerce & Economic Development	HEARING NOTICES SENT
10/7/2003	0	Committee on Commerce & Economic Development	HEARING HELD
10/7/2003	0	Committee on Commerce & Economic Development	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
9/11/2003	0	CITY COUNCIL	Referred
9/11/2003	0	CITY COUNCIL	Introduced	Pass

Title
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is given to certain businesses that contribute monies to community development corporations undertaking economic development activities within the City of Philadelphia; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-2600 of The Philadelphia Code is hereby amended to read as follows:

CHAPTER 19-2600. BUSINESS PRIVILEGE TAXES.

* * *

§19-2604. Tax Rates, Credits, and Alternative Tax Computation.

* * *

(6) Credit for Contributions to Community Development Corporations[; Pilot Program].

(a) Definitions. For purposes of this subsection, the following definitions shall apply:

(.1) Qualifying CDC. A community development corporation undertaking economic development activities within the City of Philadelphia.

(b) A business shall receive a tax credit of $100,000 per year against business privilege tax liability for each year the business contributes $100,000 in cash to a Qualifying CDC under the terms and conditions of this subsection (6).

(c) The tax credit under this subsection (6) shall be available to up to [fifteen (15)] twenty-five (25) businesses that enter into a contribution agreement with the City under which the business agrees to contribute $100,000 in cash per year for ten consecutive years to a Qualifying CDC designated by the business. No tax credit shall be given for any contributions made by a business to a Qualifying CDC other than pursuant to a contribution agreement with the City executed under the terms and conditions of this subsection (6).

(d) The Revenue Department shall provide application forms for businesses that wish to apply for tax credits under this Section, and it shall enter into contribution agreements under this Secti...