PASSED

The enacted bill amends Philadelphia’s Business Privilege Tax rules to provide a Job Creation Tax Credit for certain businesses that create new jobs in the city. The credit is set at 2% of the annual wages paid for each new job or $1,000 per job, whichever is higher, up to the amount specified in the business’s commitment letter.

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by establishing a program under which a Job Creation Tax Credit will be given to certain businesses creating new jobs in the City of Philadelphia; all under certain terms and conditions.