Official:Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by readopting and clarifying a pilot program under which a credit against business privilege taxes will be given to certain businesses that contribute monies to community development corporations undertaking economic development activities within the City of Philadelphia; all under certain terms and conditions.
Sponsor: Councilmember Goode
Introduced: October 24, 2002
Signed: November 21, 2002
: Committee on Commerce & Economic Development
Status: Signed into Law, step 4 of 4
This bill amends a previous law to re-establish a pilot program that gives businesses a tax credit for contributing money to community development corporations (CDCs) in Philadelphia. The credit is $100,000 per year for each year a business donates $100,000 to a qualifying CDC.
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