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File #: 141028    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 12/11/2014 In control: Committee on Commerce & Economic Development
On agenda: Final action: 2/5/2015
Title: Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses that enter into agreements to make contributions to community development corporations and certain other organizations receive credits against business income and receipts taxes, by changing the annual contribution amount required to receive the credit and the annual amount of the credit, all under certain terms and conditions.
Sponsors: Councilmember Goode
Indexes: TAX RATES, CREDITS, AND ALTERNATIVE COMPUTATIONS
Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation
Attachments: 1. CertifiedCopy14102800.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
2/18/20150 MAYOR SIGNED   Action details Not available
2/5/20150 CITY COUNCIL READ AND PASSEDPass16:0 Action details Not available
1/29/20150 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
1/29/20150 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
1/29/20150 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
1/22/20150 Committee on Commerce & Economic Development HEARING NOTICES SENT   Action details Not available
1/22/20150 Committee on Commerce & Economic Development HEARING HELD   Action details Not available
1/22/20150 Committee on Commerce & Economic Development REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
12/11/20140 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses that enter into agreements to make contributions to community development corporations and certain other organizations receive credits against business income and receipts taxes, by changing the annual contribution amount required to receive the credit and the annual amount of the credit, 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:

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) 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) Qualifying Organization. A Qualifying CDC, Qualifying Nonprofit Organization Engaged in Developing and Implementing Healthy Food Initiatives or Qualifying Nonprofit Intermediary.

(b) Subje...

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