Official:Amending Section 19-2604 of The Philadelphia Code, relating to tax rates and credits for the business privilege tax, by amending the provisions providing a credit for contributions to community development corporations to allow two businesses to apply jointly for the credit, under certain terms and conditions.
Sponsor: Councilmember Goode
Introduced: April 30, 2009
Signed: June 11, 2009
: Committee on Commerce & Economic Development
Status: Signed into Law, step 4 of 4
This bill allows two businesses to jointly apply for a tax credit when they contribute together to community development corporations (CDCs). The credit can be up to $100,000 per year and is meant to encourage economic growth in Philadelphia.
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