Transmitting a bill amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by providing for certain exclusions relating to investments made under the federal New Market Tax Credit program, under certain terms and conditions, accompanied by an explanatory letter from the Deputy Mayor for Economic Development.

AI summary

This communication transmitted a proposed bill that would amend Philadelphia’s Business Privilege Tax rules to exclude certain investments made through the federal New Markets Tax Credit program, subject to specified terms and conditions. It was accompanied by an explanatory letter from the Deputy Mayor for Economic Development and was placed on file; the communication itself does not enact the proposed changes.