Official:Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by making permanent and expanding the pilot program under which a credit against business privilege taxes is 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: September 11, 2003
Signed: October 16, 2003
: Committee on Commerce & Economic Development
Status: Signed into Law, step 4 of 4
This law gives tax credits to businesses that contribute money to community development corporations (CDCs) in Philadelphia. The credit is $100,000 per year for each year a business contributes $100,000 to a CDC. Up to 25 businesses can participate in the program.
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