City of Philadelphia - File #: 110561

• File #: 110561
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 9/8/2011
• In control: Committee on Commerce & Economic Development
• Final action: 10/13/2011
• Title: Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses that enter into agreements to make contributions to community development corporations receive business privilege tax credits, all under certain terms and conditions.
• Sponsors: Councilmember Goode
• Indexes: BUSINESS PRIVILEGE TAX
• Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation

Date	Ver.	Action By	Action	Result	Tally
10/26/2011	1	MAYOR	SIGNED
10/13/2011	1	CITY COUNCIL	READ AND PASSED	Pass	17:0
10/6/2011	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
10/6/2011	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
10/6/2011	1	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
10/5/2011	0	Committee on Commerce & Economic Development	HEARING NOTICES SENT
10/5/2011	0	Committee on Commerce & Economic Development	HEARING HELD
10/5/2011	0	Committee on Commerce & Economic Development	AMENDED
10/5/2011	1	Committee on Commerce & Economic Development	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
9/8/2011	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses that enter into agreements to make contributions to community development corporations receive business privilege tax credits, 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.

* * *
(6) Credit for Contributions to Community Development Corporations and Nonprofit Intermediaries.
(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.
(.2) Qualifying Nonprofit Intermediary. A nonprofit organization with an established record of providing financial, technical, policy or related assistance to community development corporations undertaking neighborhood economic development activities within the City of Philadelphia.
(.3) Qualifying Organization. A Qualifying CDC or Qualifying Nonprofit Intermediary.
(b) Subject to the provisions of subsection (6)(f), a business shall receive a tax credit of [$100,000] $85,000 per year against business privilege tax liability for each year the business contributes [$100,000] $85,000 in cash to a Qualifying Organization under the terms and conditions of this subsection (6).
(c) Subject to the provisions of subsection (6)(f), the tax credit under this subsection (6) shall be available to up to [thirty (30)] thirty-five (35) businesses that enter into a contribution agreement with the City under which the business agrees to contribute [$100,000] $85,000 in cash per year for ten consecutive years to a Qualifying Organization designated by the business. No tax credit shall be given for any contributions made by a business to a Qualifying Organization other...