City of Philadelphia - File #: 060630

• File #: 060630
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 9/14/2006
• In control: Committee on Commerce & Economic Development
• Final action: 10/26/2006
• Title: Amending Section 19-2604 of The Philadelphia Code, entitled "Tax Rates, Credits, and Alternative Tax Computation," by amending the provisions of the new job creation tax credit with respect to businesses that create new jobs for ex-offenders; all under certain terms and conditions.
• Sponsors: Councilmember Goode, Councilmember Clarke, Councilmember Reynolds Brown, Councilmember Miller, Councilmember Ramos, Councilmember Blackwell
• Indexes: TAXES
• Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation

Date	Ver.	Action By	Action	Result	Tally
11/16/2006	0	MAYOR	SIGNED
10/26/2006	0	CITY COUNCIL	READ
10/26/2006	0	CITY COUNCIL	PASSED	Pass	14:0
10/19/2006	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
10/19/2006	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
10/19/2006	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
10/5/2006	0	Committee on Commerce & Economic Development	HEARING NOTICES SENT
10/5/2006	0	Committee on Commerce & Economic Development	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
10/5/2006	0	Committee on Commerce & Economic Development	HEARING HELD
9/14/2006	0	CITY COUNCIL	Referred
9/14/2006	0	CITY COUNCIL	Introduced	Pass

Title

Amending Section 19-2604 of The Philadelphia Code, entitled “Tax Rates, Credits, and Alternative Tax Computation,” by amending the provisions of the new job creation tax credit with respect to businesses that create new jobs for ex-offenders; all under certain terms and conditions.

Body

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

      SECTION 1. Section 19-2604 of The Philadelphia Code is hereby amended to read as follows:

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

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(7)      Credit for New Job Creation.

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      (d)      Tax Credits.

            (1)      Maximum amount. A business may claim a tax credit in an amount equal to two percent of the annual wages paid for each new job, or $1,000 per new job created (or $5,000 per new job created in the case of new employment opportunities for ex-offenders), whichever is higher, up to the maximum job creation amount specified in the commitment letter.

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_____________________________________

Explanation:

[Brackets] indicate matter deleted.

Italics indicate new matter added.

End

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