City of Philadelphia - File #: 050016

• File #: 050016
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 1/25/2005
• In control: Committee on Parks, Recreation and Cultural Affairs
• Final action: 6/16/2005
• Title: Amending Chapter 19-1400 of The Philadelphia Code, entitled "Realty Transfer Tax," by excluding from the tax certain sub-subleases of property by the Fairmount Park Historic Preservation Trust, Inc. ("Trust") pursuant to a Master Sublease Agreement between the Philadelphia Authority for Industrial Development ("PAID") and the Trust, and pursuant to a Master Lease Agreement between the City and PAID, all as authorized by Bill No. 505 (approved June 8, 1993), under certain terms and conditions.
• Sponsors: Councilmember Reynolds Brown
• Indexes: PAID, REALTY TRANSFER TAX

Date	Ver.	Action By	Action	Result	Tally
7/8/2005	0	MAYOR	SIGNED
6/16/2005	0	CITY COUNCIL	READ
6/16/2005	0	CITY COUNCIL	PASSED	Pass	17:0
6/9/2005	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/9/2005	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/9/2005	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/8/2005	0	Committee on Parks, Recreation and Cultural Affairs	HEARING NOTICES SENT
6/8/2005	0	Committee on Parks, Recreation and Cultural Affairs	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/8/2005	0	Committee on Parks, Recreation and Cultural Affairs	HEARING HELD
1/25/2005	0	CITY COUNCIL	Referred
1/25/2005	0	CITY COUNCIL	Introduced	Pass

Title

Amending Chapter 19-1400 of The Philadelphia Code, entitled “Realty Transfer Tax,” by excluding from the tax certain sub-subleases of property by the Fairmount Park Historic Preservation Trust, Inc. (“Trust”) pursuant to a Master Sublease Agreement between the Philadelphia Authority for Industrial Development (“PAID”) and the Trust, and pursuant to a Master Lease Agreement between the City and PAID, all as authorized by Bill No. 505 (approved June 8, 1993), under certain terms and conditions.

Body

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

      SECTION 1.  Chapter 19-1400 of The Philadelphia Code is hereby amended to read as follows:

CHAPTER 19-1400. REALTY TRANSFER TAX.

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§19-1405. Excluded Transactions.

      The tax imposed by Section 19-1403 shall not be imposed upon:

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(27)      A sub-sublease by the Fairmount Park Historic Preservation Trust, Inc. (“Trust”) of a property that has been leased by the City to the Philadelphia Authority for Industrial Development (“PAID”) under a Master Lease Agreement and sub-leased by PAID to the Trust under a Master Sublease Agreement, all as authorized by and subject to the provisions of Bill No. 505 (approved June 8, 1993).

*            *            *

______________________

Explanation:

[Brackets] indicate matter deleted.

Italics indicate new matter added.

End