City of Philadelphia - File #: 090353

• File #: 090353
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 4/30/2009
• In control: Committee on Commerce & Economic Development
• Final action: 6/11/2009
• Title: Amending Section 19-2604 of The Philadelphia Code, relating to tax rates and credits for the business privilege tax, by amending the provisions providing a credit for contributions to community development corporations to allow two businesses to apply jointly for the credit, under certain terms and conditions.
• Sponsors: Councilmember Goode, Councilmember Jones, Councilmember Green, Councilmember Sanchez, Councilmember Reynolds Brown, Councilmember DiCicco, Councilmember Clarke
• Indexes: BUSINESS PRIVILEGE TAX
• Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation

Date	Ver.	Action By	Action	Result	Tally
6/24/2009	1	MAYOR	SIGNED
6/11/2009	1	CITY COUNCIL	READ
6/11/2009	1	CITY COUNCIL	PASSED	Pass	16:0
6/4/2009	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/4/2009	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/4/2009	1	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
5/21/2009	0	Committee on Commerce & Economic Development	HEARING NOTICES SENT
5/21/2009	0	Committee on Commerce & Economic Development	HEARING HELD
5/21/2009	0	Committee on Commerce & Economic Development	AMENDED
5/21/2009	0	Committee on Commerce & Economic Development	AMENDED
5/21/2009	1	Committee on Commerce & Economic Development	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
4/30/2009	0	CITY COUNCIL	Referred
4/30/2009	0	CITY COUNCIL	Introduced	Pass

Title
Amending Section 19-2604 of The Philadelphia Code, relating to tax rates and credits for the business privilege tax, by amending the provisions providing a credit for contributions to community development corporations to allow two businesses to apply jointly for the credit, 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.

* * *

(6) Credit for Contributions to Community Development Corporations.

(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] Subject to the provisions of subsection (6)(f), 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] Subject to the provisions of subsection (6)(f), the tax credit under this subsection (6) shall be available to up to thirty (30) 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 Section with up to thirty (30) applicants on a "first come-first served" basis. ...