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BillENACTED

Bill 120855

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by revising the total amount of all tax credits available in any year for new job creation, under certain terms and conditions.

Introduced Oct 25, 2012Committee on Commerce & Economic DevelopmentOfficial record: City of Philadelphia via Legistar

Introduced by

Councilmember Goode

From the floor

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

  1. “The Committee on Commerce and Economic Development, to which was referred Bill No. 120855, entitled "An ordinance amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Income and Receipts Taxes,' by revising the total amount of all tax credits available in any year for new job creation, under certain terms and conditions," respectfully reports it has considered the same and returns the attached bill t…”

    Chief Clerk · Stated Meeting, November 15, 2012 · Nov 15, 2012 · official transcript, this passage

  2. “Thank you, Mr. President. I move the rules of Council be suspended so as to permit first reading this day of Bill No. 120855. (Duly seconded.)”

    Councilman Goode · Stated Meeting, November 15, 2012 · Nov 15, 2012 · official transcript, this passage

  3. “It has been moved and properly seconded that the rules of Council be suspended this day as to permit first reading of Bill No. 120855. All those in favor say aye. (Aye.)”

    Council President Clarke · Stated Meeting, November 15, 2012 · Nov 15, 2012 · official transcript, this passage

Status timeline

  1. Oct 25, 2012Introduced and Referred · CITY COUNCIL
  2. Nov 14, 2012HEARING NOTICES SENT · Committee on Commerce & Economic Development
  3. Nov 14, 2012HEARING HELD · Committee on Commerce & Economic Development
  4. Nov 14, 2012REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Commerce & Economic Development
  5. Nov 15, 2012ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  6. Nov 15, 2012SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
  7. Nov 15, 2012ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
  8. Nov 29, 2012READ AND PASSED · CITY COUNCIL
  9. Dec 11, 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 total amount of all tax credits available in any year for new 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. * * * (5) Maximum. The total amount of all tax credits available in any year for commitment under subsection (7)(c)(3) shall not exceed [1%] 2% of all revenues collected by the City through the gross receipts and net income components of the business income and receipts tax during the previous tax year. * * * SECTION 2. This Ordinance shall take effect beginning with Tax Year 2013. ________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End 4 2