PASSED

The enacted measure amends Philadelphia’s school tax authorization to allow the School District’s Board of Education to impose, for fiscal year 2001, a tax on residents’ net income from owning, leasing, selling, or otherwise disposing of real property and tangible or intangible personal property. It sets the authorized tax rate at 4.5635%, subject to any legal limit.

Amending Chapter 19-1800 of The Philadelphia Code, entitled "School Tax Authorization," by amending Section 19-1804 to further authorize the Board of Education of the School District of Philadelphia to impose a tax on net income from real property and tangible and intangible personal property of residents of the School District of Philadelphia.