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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. “…, 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. “…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, 2012
    Introduced and Referred · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Goode that this matter be Introduced and Referred to the Committee on Commerce & Economic Development. The motion carried unanimously.

  2. Nov 14, 2012
    HEARING NOTICES SENT · Committee on Commerce & Economic Development
  3. Nov 14, 2012
    HEARING HELD · Committee on Commerce & Economic Development
  4. Nov 14, 2012
    REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Commerce & Economic Development
  5. Nov 15, 2012
    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
  6. Nov 15, 2012
    SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL

    Recorded result: Pass

    A motion was made by Councilmember Goode that this matter be SUSPEND THE RULES OF THE COUNCIL. The motion carried unanimously.

  7. Nov 15, 2012
    ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
  8. Nov 29, 2012
    READ AND PASSED · CITY COUNCIL

    Recorded result: Pass

    A motion was made that this matter be READ AND PASSED. The motion carried by the following vote:

  9. Dec 11, 2012
    SIGNED · 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