This bill aims to extend a tax provision to trusts that own property for the benefit of a low-income individual, under certain conditions. The change would affect trusts that meet specific requirements, potentially reducing taxes for low-income Philadelphians. The bill is currently being reviewed by a City Council committee.

Amending Chapter 19-4600 of The Philadelphia Code, entitled "Low-Income Tax Provisions," to extend the low-income tax provision to trusts that own property for the benefit of a natural person, all under certain conditions.