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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.

AI summary

This enacted ordinance amends Philadelphia’s rules for Keystone Opportunity Zones and related development areas to allow additional extensions of certain tax benefits for specified parcels. The extensions depend on approval by Pennsylvania’s Department of Community and Economic Development and may apply to sales and use, personal income, corporate net income, and capital stock franchise taxes for businesses and residents on approved parcels.

File details

Status
ENACTED
Introduced
May 11, 2023
View official record ↗

Full text

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

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

(5) The benefits provided for in subsection (1)(j) shall apply to:

Street Address

OPA Account Number

(sss)

3401 Grays Ferry Avenue

77-3-262100

(ttt)

13000 McNulty Road

88-5-924002

(uuu)

4628 Market Street

88-5-790940

(vvv)

2275 Bridge Street, Unit 111

88-4-529170

(www)

2275 Bridge Street, Unit 111

88-4-529170

(xxx)

2275 Bridge Street, Unit 112

88-4-529175

(yyy)

2275 Bridge Street, Unit 119A

88-4-529186

(zzz)

2275 Bridge Street, Unit 14

88-4-529050

(aaaa)

2275 Bridge Street, Unit 15

88-4-529055

(bbbb)

2275 Bridge Street, Unit 2

88-4-529005

(cccc)

2275 Bridge Street, Unit 219

88-4-529260

(dddd)

2275 Bridge Street, Unit 28

88-4-529065

(eeee)

2275 Bridge Street, Unit 28A

88-4-529070

(ffff)

2275 Bridge Street, Unit 3

88-4-529010

(iiii)

2275 Bridge Street, Unit 40

88-4-529085

(jjjj)

2275 Bridge Street, Unit 220

88-4-529265

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.

End

File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.
  1. Council actionMAYOR

    Signed

  2. CITY COUNCIL

    Details not published

    No details have been published for this item. Legistar notes that this meeting's minutes have not been finalized.
  3. CITY COUNCIL

    Details not published

    No details have been published for this item. Legistar notes that this meeting's minutes have not been finalized.
  4. Council actionCommittee on Finance

    Amended

    Council actionCommittee on Finance

    Reported favorably, rule suspension requested

    Council actionCommittee on Finance

    Hearing held

    Council actionCommittee on Finance

    Hearing notices sent

  5. Council actionCITY COUNCIL

    Introduced and Referred