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File #: 170717    Version: Name:
Type: Bill Status: ENACTED
File created: 9/14/2017 In control: Committee on Finance
On agenda: Final action:
Title: Amending Chapter 19-4200 of The Philadelphia Code, entitled "New Sustainable Businesses," to expand the tax relief offered to such businesses, and to make technical corrections, all under certain terms and conditions.
Sponsors: Councilmember Quiñones Sánchez
Indexes: NEW SUSTAINABLE BUSINESSES
Code sections: 19-4200 - New Sustainable Businesses
Attachments: 1. CertifiedCopy17071701.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
11/27/20171 MAYOR SIGNED   Action details Not available
11/16/20171 CITY COUNCIL READ AND PASSEDPass14:0 Action details Not available
11/2/20171 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
11/2/20171 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
11/2/20171 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
11/1/20170 Committee on Finance HEARING NOTICES SENT   Action details Not available
11/1/20170 Committee on Finance HEARING HELD   Action details Not available
11/1/20170 Committee on Finance AMENDED   Action details Not available
11/1/20171 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
9/14/20170 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Amending Chapter 19-4200 of The Philadelphia Code, entitled "New Sustainable Businesses," to expand the tax relief offered to such businesses, and to make technical corrections, all under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Section 19-4200 of The Philadelphia Code is hereby amended to read, in relevant part, as follows:

CHAPTER 19-4200. NEW SUSTAINABLE BUSINESSES.

§ 19-4201. New Sustainable Businesses.

(1) Definitions. For purposes of this Chapter, the following definitions apply.

* * *

(d) "New Sustainable [New] Business" shall mean a New Business under the preceding definition which is certified as a Sustainable Business by the [Mayor's] Office of Sustainability pursuant to Chapter 19-2600.

(2) Tax relief. Notwithstanding any provision to the contrary, but subject to the conditions set forth in subsection [(3)] (4), [the]

(a) The business income and receipts tax under Section 19-2603 shall be imposed upon any New Sustainable Business at the rate of zero (0) percent during the first three (3) years that such business qualifies as a New Sustainable Business.

(b) The net profits tax imposed by Section 19-1502 shall be imposed with respect to the income of the New Sustainable Business at the rate of zero (0) percent during the first three (3) years that such business qualifies as a New Sustainable Business.

* * *
(4) Conditions for Tax Relief.

(a) Employment Requirement. As a condition of [imposing the business and income receipts tax at a rate of zero (0) percent upon any New Sustainable Business, such business] the tax relief provided for in subsection (2), above, a New Sustainable Business must, as of the 12-month anniversary of becoming subject to the business income and receipts tax and continuously thereafter through the 18-month anniversary of becoming subject to such tax, have at least two (2) full-...

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