Official:Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses that enter into agreements to make contributions to community development corporations receive business privilege tax credits, all under certain terms and conditions.
Sponsor: Councilmember Goode
Introduced: September 8, 2011
Signed: October 13, 2011
: Committee on Commerce & Economic Development
Status: Signed into Law, step 4 of 4
This bill amends the tax credit program for businesses that contribute to community development corporations (CDCs). Businesses can receive up to $85,000 per year in tax credits for 10 years if they agree to make annual cash contributions to a designated CDC.
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