Amending Chapter 19-3200 of The Philadelphia Code, entitled "Keystone Opportunity Zone, Economic Development District, and Strategic Development Area," to provide for additional extensions of certain benefits, under certain terms and conditions.

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-3200 of The Philadelphia Code is hereby amended to read as follows:

CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE, ECONOMIC DEVELOPMENT DISTRICT, AND STRATEGIC DEVELOPMENT AREA

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§ 19-3203. Authorization of Exemption, Abatement or Credits from Certain Taxes.

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Street Address

OPA Account Number

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(G1)

4101-23 Market Street

885129504

(H1)

225 North 38th Street

885631800

(I1)

3400 Market Street

885646662

(J1)

3800-14 Market Street

774688300

(K1)

3816-40 Market Street

885045600

(L1)

1325 Beach Street

884351717

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SECTION 2. This Ordinance shall be effective upon approval by the Commonwealth Department of Community and Economic Development of an application for the extension of benefits with respect to certain parcels, and only with respect to such parcels for which an extension is granted, and 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 on such parcels, all as set forth in Section 301.3(a)(1)(iii) of the Act of October 6, 1998 (P.L. 705, No. 92), known as the Keystone Opportunity Zone, Keystone Opportunity Expansion Zone and Keystone Opportunity Improvement Zone Act, and related legislation.

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Explanation:

Italics

indicate new matter added.

End