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BillENACTED

Bill 120012

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by revising the "Special Tax Credit Opportunity for Job Creation," under certain terms and conditions.

Introduced Jan 26, 2012Committee on Commerce & Economic DevelopmentOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember GoodeCouncilmember GoodeCouncilmember JonesCouncilmember JonesCouncilmember Reynolds BrownCouncilmember Reynolds BrownCouncil President ClarkeCouncil President ClarkeCouncilmember GreenCouncilmember GreenCouncilmember GreenleeCouncilmember Greenlee

From the floor

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

  1. “Thank you, Mr. President. Today I introduce a bill which will double the amount of total available credit for new job creation. The total amount of tax credit that's available in any year currently cannot exceed one percent of all revenues collected for the City's business taxes during the previous year, approximately $4 million. This bill would increase the program cap to two percent of all revenues collected throug…”

    Councilman Goode · Stated Meeting, October 25, 2012 · Oct 25, 2012 · official transcript, this passage

  2. “To the President and members of the Council of the City of Philadelphia, pursuant to Sections 4-604 and 2-307 of the Home Rule Charter, I am today transmitting to the Council the recommendation of the City Planning Commission regarding the following bills: Bill Nos. 120050, 120101 and 120111; and I am pleased to advise you that on March 14, 2012, I signed the following bills that were passed by Council at its session…”

    Chief Clerk · Stated Meeting, March 15, 2012 · Mar 15, 2012 · official transcript, this passage

  3. “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. 120012, entitled "An ordinance amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Income and Receipts Taxes,' by revising the Special Tax Credit Opportunity for Job Creation"; and Bill No. 120013, entitled "An ordinance amending Chapter 17-1600…”

    Chief Clerk · Stated Meeting, February 16, 2012 · Feb 16, 2012 · official transcript, this passage

Status timeline

  1. Jan 26, 2012Introduced and Referred · CITY COUNCIL
  2. Feb 15, 2012HEARING NOTICES SENT · Committee on Commerce & Economic Development
  3. Feb 15, 2012HEARING HELD · Committee on Commerce & Economic Development
  4. Feb 15, 2012AMENDED · Committee on Commerce & Economic Development
  5. Feb 15, 2012REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Commerce & Economic Development
  6. Mar 1, 2012READ · CITY COUNCIL
  7. Mar 1, 2012PASSED · CITY COUNCIL
  8. Mar 14, 2012SIGNED · MAYOR

Official documents

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

Full text

Read the full text as published

..Title Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by revising the "Special Tax Credit Opportunity for Job Creation," 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 INCOME AND RECEIPTS TAXES. * * * § 19-2604. Tax Rates, Credits, and Alternative Tax Computation. * * * (7) Credit for New Job Creation. * * * (d) Tax Credits. (1) (i) Basic Maximum Amount. A business may claim a tax credit in an amount equal to two percent of the annual wages paid for each new job, or $1,000 per new job created (or $5,000 per new job created in the case of new employment opportunities for ex-offenders), whichever is higher, up to the maximum job creation amount specified in the commitment letter. The Department shall establish by regulation a methodology by which the annual wages paid by each new job are to be determined. (ii) Special Tax Credit Opportunity for Job Creation in 2010 and 2011. In connection with any application for a Job Creation Tax Credit filed after the effective date of this subparagraph, a business may claim a tax credit in the amount of $3,000 or the amount permitted under subparagraph (i), whichever is higher, for each new job created in 2010 or 2011, up to the maximum job creation amount specified in the commitment letter. (iii) Special Tax Credit Opportunity for Job Creation in 2012 and 2013. In connection with any application for a Job Creation Tax Credit filed after the effective date of this subparagraph, a business may claim a tax credit in the amount of $3,000 or the amount permitted under subparagraph (i), whichever is higher, for each new job created in 2012 or 2013, up to the maximum job creation amount specified in the commitment letter. (iv) Special Tax Credit Opportunity for Job Creation in 2012 and 2013. In connection with any application for a Job Creation Tax Credit filed after the effective date of this subparagraph, a business may claim a tax credit in the amount of $5,000 or the amount permitted under subparagraph (i), whichever is higher, for each new job created in 2012 or 2013, up to the maximum job creation amount specified in the commitment letter. * * * SECTION 2. Nothing in this Ordinance shall affect the amount of estimated business privilege tax payments required to be paid in April 2012 for estimated Tax Year 2012 tax liabilities, and such estimated tax payments shall be calculated as if this Ordinance were not in effect for Tax Year 2012. ___________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End 4 2