Bill 030561
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is given to certain businesses that contribute monies to community development corporations undertaking economic development activities within the City of Philadelphia; all under certain terms and conditions.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“Aye. 10/16/03 - STATED - 2ND READING & FINAL PASSAGE The ayes are 15, the nays are 1. A majority of all Members having voted in the affirmative, the bill passes. The final bill to be called for consideration is Bill No. 030561. THE”
Council President Verna · Stated Meeting, October 16, 2003 · Oct 16, 2003 · official transcript, this passage
“To the President and Members of the Council of the City of Philadelphia, the Committee on Commerce and Economic Development to which was referred Bill No. 030561, entitled an ordinance amending Chapter 19-2600 of the Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is given to certain businesses that contr…”
Chief Clerk · Stated Meeting, October 9, 2003 · Oct 9, 2003 · official transcript, this passage
“Thank you, Madam President. I move that the Rules of Council be suspended so as to permit first reading this day of Bill No. 030561. (Duly seconded.)”
Councilman Nutter · Stated Meeting, October 9, 2003 · Oct 9, 2003 · official transcript, this passage
“It has been moved and properly seconded that the Rules of Council be suspended so as to permit first reading this day of Bill No. 030561. All in favor will indicate by saying aye. (Aye.)”
Council President Verna · Stated Meeting, October 9, 2003 · Oct 9, 2003 · official transcript, this passage
“The ayes have it, and Bill No. 030561 will be placed on today's First Reading Calendar. That concludes Committee reports. Our next item of business is the consideration of the Calendar. will please read the bills on the First Reading Calendar. THE”
Council President Verna · Stated Meeting, October 9, 2003 · Oct 9, 2003 · official transcript, this passage
“And Bill No. 030561, an ordinance amending Chapter 19-2600 of the Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is given to certain businesses that contribute monies to community development Corporations within the City of Philadelphia.”
Chief Clerk · Stated Meeting, October 9, 2003 · Oct 9, 2003 · official transcript, this passage
Status timeline
- Sep 11, 2003Referred · CITY COUNCIL
- Sep 11, 2003Introduced · CITY COUNCIL
- Oct 7, 2003HEARING NOTICES SENT · Committee on Commerce & Economic Development
- Oct 7, 2003HEARING HELD · Committee on Commerce & Economic Development
- Oct 7, 2003REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Commerce & Economic Development
- Oct 9, 2003ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Oct 9, 2003SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Oct 9, 2003ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
- Oct 16, 2003READ · CITY COUNCIL
- Oct 16, 2003PASSED · CITY COUNCIL
- Oct 30, 2003SIGNED · MAYOR
Official documents
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..Title Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is given to certain businesses that contribute monies to community development corporations undertaking economic development activities within the City of Philadelphia; all under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Chapter 19-2600 of The Philadelphia Code is hereby amended to read as follows: CHAPTER 19-2600. BUSINESS PRIVILEGE TAXES. * * * §19-2604. Tax Rates, Credits, and Alternative Tax Computation. * * * (6) Credit for Contributions to Community Development Corporations[; Pilot Program]. (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. (b) A business shall receive a tax credit of $100,000 per year against business privilege tax liability for each year the business contributes $100,000 in cash to a Qualifying CDC under the terms and conditions of this subsection (6). (c) The tax credit under this subsection (6) shall be available to up to [fifteen (15)] twenty-five (25) businesses 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 CDC designated by the business. No tax credit shall be given for any contributions made by a business to a Qualifying CDC other than pursuant to a contribution agreement with the City executed under the terms and conditions of this subsection (6). (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 [fifteen (15)] twenty-five (25) applicants on a "first come-first served" basis. The Revenue Department shall when necessary randomly choose among applicants that apply on the same date. (e) A business may terminate its contribution agreement with the City at any time. A business that terminates a contribution agreement will not lose any tax credits it has taken for contributions made under the contribution agreement, but the business will not be eligible to apply for any future tax credits under this subsection. If a business terminates its contribution agreement, a new business may apply to receive tax credits under this subsection, provided that such tax credits shall be limited to the number of years that were remaining on the terminating business' contribution agreement, and further provided that the new business must enter into a contribution agreement with the City under which it agrees to make contributions of $100,000 per year to the same Qualifying CDC which was the recipient under the terminating business' contribution agreement, and for the number of years that remained under that agreement. (f) The Revenue Department shall by December 31 of each year submit a written report to the Mayor, with a copy to the President and Chief Clerk of Council, summarizing the City's experience during the prior year with the tax credit provided under this Section[, and containing any recommendations as to continuation or modification of the pilot tax credit program established by this Section]. SECTION 2. The provisions of Section 1 increasing the number of contribution agreements authorized under Section 19-2604(6) of the Code from fifteen to twenty-five shall take effect beginning with Tax Year 2004. _____________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End 2