Official:Adding a Chapter 19-4300 to The Philadelphia Code, entitled "Tax Benefits for New Megabusinesses," by providing an incentive for a New Megabusiness that chooses to locate in the City of Philadelphia by reducing the Business Net Income Tax rate to zero, all under certain terms and conditions.
Sponsor: Councilmember Oh
Introduced: September 14, 2017
: Committee on Finance
Status: Lapsed
This bill was introduced in the 2016–2019 Council term and when that term ran out. The public record shows no committee vote and no floor vote at any stage, so no member of Council ever went on record for or against it.
That is not unusual here. Of the 8,465 bills introduced between 2000 and 2025, 1,624 lapsed without a single recorded vote. Ninety percent of bills that became law carry a roll call. Three percent of lapsed bills do. How this works.
This bill proposes a tax incentive for new businesses that locate in Philadelphia by reducing their business net income tax rate to zero for up to 10 years. To qualify, the business must create at least 50,000 new full-time jobs and invest $5 billion in construction within the city.
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