PASSED

This enacted measure expanded Philadelphia’s tax-credit program for businesses that contribute $100,000 per year for 10 consecutive years to a designated community development corporation. It increased the number of businesses eligible for these contribution agreements from 25 to 30, beginning with tax year 2009; applications were handled by the Revenue Department on a first-come, first-served basis, with random selection for applications submitted on the same date.

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by expanding the program under which a credit against business privilege taxes is given to certain businesses that contribute monies to community development corporations undertaking economic development activities within the City of Philadelphia; all under certain terms and conditions.