THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1.
Chapter 19-3200 of The Philadelphia Code is amended to read as follows:
CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE
§19-3203.
Authorization of Exemption, Abatement or Credits from Certain Taxes.
Effective as of January 1, 1999, and continuing through and including December 31, 2010, with respect to real property or business activity, as applicable, attributable to
those portions of
the Keystone Opportunity Zone
generally known as PIDC Northeast Industrial Parks (East), Byberry East Industrial Park; and Upper Delaware River; all as set forth in subsection 19-3201(1); effective as of January 1, 1999, and continuing through and including December 31, 2013, with respect to real property or business activity, as applicable, attributable to any portion of the Keystone Opportunity Zone other than that set forth immediately above
; and effective as of January 1, 2001, and continuing through and including December 31, 2013, with respect to real property or business activity, as applicable, attributable to the Keystone Opportunity Expansion Zone, the following provisions shall apply:
SECTION 2.
This Ordinance shall be effective only for such period of time as the Commonwealth provides for exemptions, abatements or credits with respect to sales and use tax, personal income tax, corporate net income tax and capital stock franchise tax for businesses and residents in The Philadelphia Keystone Opportunity Zone, as set forth in The Pennsylvania Keystone Opportunity Zone Act, P.L. 705, No. 92, as amended, and only in such Zone as is designated by the Commonwealth.
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Explanation:
Italics
indicate new matter added.
End