PASSED

The enacted bill amended Philadelphia’s School Tax Authorization rules to allow the School District of Philadelphia’s Board of Education to impose a tax for fiscal year 2002 on qualifying net income from residents’ real property and tangible and intangible personal property. The stated tax rate was 4.5385% on income received or credited during tax year 2001, subject to any applicable 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.