SUSPEND THE RULES OF THE COUNCIL

This lapsed bill would have reduced Philadelphia wage and net profits tax rates in stages for certain low-income residents and nonresidents, with the tax reaching zero for very low-income residents and a specified reduced rate for very low-income nonresidents beginning in 2007. It also would have allowed eligible taxpayers to seek refunds for excess taxes paid and directed the Revenue Department to create the necessary forms and procedures.

Amending Chapter 19-1500 of The Philadelphia Code, entitled "Wage and Net Profits Tax," by decreasing in three stages the rates of the tax imposed upon certain low income persons, providing for refunds of excess taxes paid, and directing the Revenue Department to prepare forms for use by eligible taxpayers seeking such refunds; all under certain terms and conditions.