City of Philadelphia - File #: 160133

• File #: 160133
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 2/18/2016
• In control: Committee on the Environment
• Final action: 6/16/2016
• Title: Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," to revise the Sustainable Business Tax Credit by changing the criteria for eligibility, by increasing the number of eligible businesses, by increasing the total tax credit amount, and by expanding the credit so that it applies against Sustainable Businesses' total business income and receipts tax liability; all under certain terms and conditions.
• Sponsors: Councilmember Quiñones Sánchez, Councilmember Reynolds Brown
• Indexes: BUSINESS PRIVILEGE TAX
• Code sections: 19-2600 - Business Privilege Tax

Date	Ver.	Action By	Action	Result	Tally
6/28/2016	1	MAYOR	SIGNED
6/16/2016	1	CITY COUNCIL	READ AND PASSED	Pass	17:0
5/26/2016	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
5/26/2016	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
5/26/2016	1	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
5/19/2016	0	Committee on the Environment	HEARING NOTICES SENT
5/19/2016	0	Committee on the Environment	HEARING HELD
5/19/2016	0	Committee on the Environment	AMENDED
5/19/2016	1	Committee on the Environment	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
4/29/2016	0	Committee on the Environment	HEARING NOTICES SENT
4/29/2016	0	Committee on the Environment	RECESSED
2/18/2016	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," to revise the Sustainable Business Tax Credit by changing the criteria for eligibility, by increasing the number of eligible businesses, by increasing the total tax credit amount, and by expanding the credit so that it applies against Sustainable Businesses' total business income and receipts tax liability; all under certain terms and conditions.

Body
WHEREAS, The City of Philadelphia enacted a Sustainable Business Tax Credit in 2009 designed to assist existing B Corps certified businesses and incentivize more businesses to complete B Corps certification; and

WHEREAS, The creation of the Sustainable Business Tax Credit recognized that B Corps certified businesses are desirable for the City because they are overwhelmingly locally owned, twice as likely to offer health insurance and retirement plans, three times more likely to be owned by minorities or women, and thirty times more likely to donate at least ten percent of profits to charity than other businesses; and a significant portion offer some form of employee ownership; and

WHEREAS, According to a report by the Sustainable Business Network of Greater Philadelphia, the current Sustainable Business Tax Credit fails to adequately assist and encourage B Corps certified businesses because the available credit for each qualifying business is too small to have a meaningful effect on a B Corps' financial bottom line, the cap of twenty-five businesses currently excludes thirty percent of B Corps in Philadelphia, and the credit does not apply to a B Corp's net income tax liability, which is often more burdensome than their receipts tax liability; and

WHEREAS, The increase of the tax credit, the number of credits available, and application of the credit to net income in addition to receipts tax liability will better fulfill the Sustainable Business Tax Credit's purpose to support and encourage B C...