Title
Amending Section 19-2604 of The Philadelphia Code relating to tax rates and credits for the Business Income and Receipts Tax by providing a credit for contributions to nonprofit organizations engaged in developing and implementing healthy food initiatives, 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:
ยง19-2604. Tax Rates, Credits, and Alternative Tax Computation.
* * *
(6) Credit for Contributions to Community Development Corporations, Nonprofit Organizations Engaged in Developing and Implementing Healthy Food Initiatives 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 Organization Engaged in Developing and Implementing Healthy Food Initiatives. A nonprofit organization with an established record of developing and implementing healthy food initiatives within the City of Philadelphia. The Department of Public Health shall determine whether an agency meets these standards, and may establish further eligibility standards not inconsistent with this definition.
(.3)[(.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.
(.4) [(.3)] Qualifying Organization. A Qualifying CDC, Qualifying Nonprofit Organization Engaged in Developing and Implementing Healthy Food Initiatives or Qualifying Nonprofit Intermediary.
(b) Subject to the provisions of subsection (6)(f), a business shall receive a tax credit of $85,000 per year agai...
Click here for full text