PASSED

This enacted law amended Philadelphia’s new job creation tax credit for businesses that create jobs for people who are formerly incarcerated. For each qualifying new job, the credit can be 2% of annual wages or $5,000, whichever is higher, subject to the maximum amount in the business’s commitment letter.

Amending Section 19-2604 of The Philadelphia Code, entitled "Tax Rates, Credits, and Alternative Tax Computation," by amending the provisions of the new job creation tax credit with respect to businesses that create new jobs for ex-offenders; all under certain terms and conditions.