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File #: 180261-A    Version: Name:
Type: Bill Status: IN MAYOR'S OFFICE
File created: 3/22/2018 In control: Committee on Finance
On agenda: Final action: 6/21/2018
Title: Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses may enter into agreements to make contributions to community development corporations and certain other organizations to receive credits against business income and receipts taxes, by increasing the number of businesses for which the credit shall be made available to, all under certain terms and conditions.
Sponsors: Councilmember Henon
Indexes: AGREEMENTS, BUSINESS INCOME AND RECEIPTS TAXES
Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation
Attachments: 1. Bill No. 180261-A01, As Amended on Floor.pdf
Date Ver.Action ByActionResultAction DetailsVideo
6/21/20180 CITY COUNCIL READ AND PASSEDPass Action details Not available
6/14/20180 CITY COUNCIL READ  Action details Not available
6/14/20181 CITY COUNCIL AMENDED  Action details Not available
6/14/20181 CITY COUNCIL ORDERED PLACED ON FINAL PASSAGE CALENDAR FOR NEXT MEETING.  Action details Not available
5/24/20180 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR  Action details Not available
5/24/20180 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass Action details Not available
5/24/20180 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR  Action details Not available
5/22/20180 Committee on Finance HEARING NOTICES SENT  Action details Not available
5/22/20180 Committee on Finance HEARING HELD  Action details Not available
5/22/20180 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED  Action details Not available
3/22/20180 CITY COUNCIL Introduced and ReferredPass Action details Not available
Title
Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses may enter into agreements to make contributions to community development corporations and certain other organizations to receive credits against business income and receipts taxes, by increasing the number of businesses for which the credit shall be made available to, 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.

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6) Credit for Contributions to Community Development Corporations, Nonprofit Organizations Engaged in Developing and Implementing Healthy Food Initiatives and Nonprofit Intermediaries.

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(c) Subject to the provisions of subsection (6)(f), the tax credit under this subsection (6) shall be available to up to [forty (40)] forty-five (45) businesses, with respect to contributions to Qualifying CDCs or Qualifying Nonprofit Intermediaries, and up to two (2) businesses, with respect to contributions to Qualifying Nonprofit Organizations Engaged in Developing and Implementing Healthy Food Initiatives, that enter into a contribution agreement with the City under which the business agrees to contribute $100,000 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 than pursuant to a contribution agreement with the City executed under the terms and conditions of this subsection (6).

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(d) The Revenue Department shall provide application forms for businesses that wish to apply for tax credits under this Section, and it shall enter into contribution agreements under this Section with up to [forty (40)] forty-five (45) applicants, with respect to...

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