PASSED

The enacted ordinance amended Philadelphia’s Keystone Opportunity Zone rules to authorize exemptions, abatements, or credits from certain taxes through specified dates, including December 31, 2010 or December 31, 2013, depending on the zone. The tax benefits applied to qualifying businesses and residents in designated Keystone Opportunity Zones and were conditional on authorization by Pennsylvania law.

Amending Chapter 19-3200 of The Philadelphia Code, entitled "Keystone Opportunity Zone," by extending the time period for exemptions, abatements or credits from certain taxes, under certain terms and conditions.