Bill 121039
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by further revising the "Special Tax Credit Opportunity for Job Creation," 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.
“The ayes have it. 121013 has been adopted. Mr. Decker, would you please read the title of Bill No. 121039.”
Council President Clarke · Stated Meeting, January 31, 2013 · Jan 31, 2013 · 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. 121039, entitled "An ordinance amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Income and Receipts Taxes,' by further revising the 'Special Tax Credit Opportunity for Job Creation,' under certain terms and conditions," respectfully reports it…”
Chief Clerk · Stated Meeting, January 24, 2013 · Jan 24, 2013 · official transcript, this passage
“Thank you. I move the rules of Council be suspended so as to permit first reading this day of Bill No. 121039.”
Councilman Goode · Stated Meeting, January 24, 2013 · Jan 24, 2013 · official transcript, this passage
“It has been moved and properly seconded that the rules of Council be suspended as to permit first reading this day of Bill No. 121039. All those in favor will say aye. (Aye.)”
Councilman Jones · Stated Meeting, January 24, 2013 · Jan 24, 2013 · official transcript, this passage
Status timeline
- Dec 13, 2012Introduced and Referred · CITY COUNCIL
- Jan 24, 2013HEARING NOTICES SENT · Committee on Commerce & Economic Development
- Jan 24, 2013HEARING HELD · Committee on Commerce & Economic Development
- Jan 24, 2013REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Commerce & Economic Development
- Jan 24, 2013ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Jan 24, 2013SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Jan 24, 2013ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR · CITY COUNCIL
- Jan 31, 2013READ AND PASSED · CITY COUNCIL
- Feb 12, 2013SIGNED · 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 further 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] and each year thereafter. 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] thereafter, up to the maximum job creation amount specified in the commitment letter. * * * __________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End 4 2