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File #: 190848    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 10/31/2019 In control: Committee on Finance
On agenda: Final action: 12/12/2019
Title: Amending Chapter 19-3200 of The Philadelphia Code, entitled "Keystone Opportunity Zone, Economic Development District, and Strategic Development Area," to provide for additional extensions of certain benefits, under certain terms and conditions.
Sponsors: Councilmember Blackwell, Councilmember Squilla
Indexes: KEYSTONE OPPORTUNITY ZONE
Code sections: 19-3200 - Keystone Opportunity Zone
Attachments: 1. Bill No. 19084800.pdf, 2. CertifiedCopy19084800

Title

Amending Chapter 19-3200 of The Philadelphia Code, entitled “Keystone Opportunity Zone, Economic Development District, and Strategic Development Area,” to provide for additional extensions of certain benefits, under certain terms and conditions.

Body

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

 

SECTION 1.  Chapter 19-3200 of The Philadelphia Code is hereby amended to read as follows:

 

CHAPTER 19-3200.  KEYSTONE OPPORTUNITY ZONE, ECONOMIC DEVELOPMENT DISTRICT, AND STRATEGIC DEVELOPMENT AREA

 

*          *          *

 

§ 19-3203.  Authorization of Exemption, Abatement or Credits from Certain Taxes.

 

*          *          *

 

                     (5)                     The benefits provided for in subsection (1)(j) shall apply to:

 

                     Street Address                                          OPA Account Number

 

*          *          *

 

(G1)                     4101-23 Market Street                                          885129504

(H1)                     225 North 38th Street                                          885631800

(I1)                     3400 Market Street                                          885646662

(J1)                     3800-14 Market Street                                          774688300

(K1)                     3816-40 Market Street                                          885045600

(L1)                     1325 Beach Street                                          884351717

 

*          *          *

 

                     SECTION 2. This Ordinance shall be effective upon approval by the Commonwealth Department of Community and Economic Development of an application for the extension of benefits with respect to certain parcels, and only with respect to such parcels for which an extension is granted, and only for such period of time as the Commonwealth provides for exemptions, abatements or credits with respect to sales and use tax, personal income tax, corporate net income tax and capital stock franchise tax for businesses and residents on such parcels, all as set forth in Section 301.3(a)(1)(iii) of the Act of October 6, 1998 (P.L. 705, No. 92), known as the Keystone Opportunity Zone, Keystone Opportunity Expansion Zone and Keystone Opportunity Improvement Zone Act, and related legislation.

 

 

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Explanation:

 

Italics indicate new matter added.

 

End