Official:Amending subsection 19-2604(6) of The Philadelphia Code, under which businesses that enter into agreements to make contributions to community development corporations and certain other organizations receive credits against business income and receipts taxes, by changing the annual contribution amount required to receive the credit and the annual amount of the credit, all under certain terms and conditions.
Sponsor: Councilmember Goode
Introduced: December 11, 2014
Signed: February 5, 2015
: Committee on Commerce & Economic Development
Status: Signed into Law, step 4 of 4
This bill amends a tax credit program for businesses that contribute to community development corporations and certain organizations. Businesses can receive up to $100,000 in tax credits per year for making a $100,000 contribution.
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