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BillENACTED

Bill 100009

Amending Section 19-2604 of The Philadelphia Code, relating to tax rates and credits for the business privilege tax, by amending the credit for contributions to community development corporations to allow a business that terminated a contribution agreement to remain eligible for future tax credits under the provision that permits two businesses to apply jointly for the tax credit, under certain terms and conditions.

Introduced Jan 28, 2010Committee on Commerce & Economic DevelopmentOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember GoodeCouncilmember Krajewski

From the floor

Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.

  1. “Aye. The ayes are 16; the nays are 3/11/10 - STATED - 2ND READING zero. A majority of all members having voted in the affirmative, this bill passes. We will now consider Bill No. 100009.”

    Council President Verna · Stated Meeting, March 11, 2010 · Mar 11, 2010 · official transcript, this passage

  2. “The Committee on Commerce and Economic Development, to which was referred Bill No. 100009, entitled "An ordinance amending Section 19-2604 of The Philadelphia Code, relating to tax, rates and credits for the business privilege tax, by amending the credit for contributions to community development corporations to allow a business that terminated a contribution agreement to remain eligible for future tax credits under…”

    Chief Clerk · Stated Meeting, March 4, 2010 · Mar 4, 2010 · official transcript, this passage

  3. “Thank you, the rules of Council be suspended so as to permit first reading this day of Bill No. 100009. (Duly seconded.)”

    Councilman Goode · Stated Meeting, March 4, 2010 · Mar 4, 2010 · official transcript, this passage

Status timeline

  1. Jan 28, 2010Referred · CITY COUNCIL
  2. Jan 28, 2010Introduced · CITY COUNCIL
  3. Feb 25, 2010HEARING NOTICES SENT · Committee on Commerce & Economic Development
  4. Feb 25, 2010HEARING HELD · Committee on Commerce & Economic Development
  5. Feb 25, 2010REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Commerce & Economic Development
  6. Mar 4, 2010ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  7. Mar 4, 2010SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
  8. Mar 4, 2010ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
  9. Mar 11, 2010READ · CITY COUNCIL
  10. Mar 11, 2010PASSED · CITY COUNCIL
  11. Mar 17, 2010SIGNED · MAYOR

Official documents

Documents open on the City of Philadelphia’s legislative site.

Full text

Read the full text as published

..Title Amending Section 19-2604 of The Philadelphia Code, relating to tax rates and credits for the business privilege tax, by amending the credit for contributions to community development corporations to allow a business that terminated a contribution agreement to remain eligible for future tax credits under the provision that permits two businesses to apply jointly for the tax credit, 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: §19-2604. Tax Rates, Credits, and Alternative Tax Computation. * * * (6) Credit for Contributions to Community Development Corporations. * * * (e) Subject to the provisions of subsection (6)(f), 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 except as one of two businesses applying jointly for the tax credit under the provisions of subsection (6)(f). 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. * * * ______________________ Explanation: Italics indicate new matter added. ..End 2