PASSED

This enacted change to Philadelphia’s business privilege tax credit for contributions to community development corporations allows a business that ends its contribution agreement to keep tax credits it already received. It also allows that business to remain eligible for future credits when applying jointly with another business, subject to the provision’s terms and conditions.

Amending Section 19-2604 of The Philadelphia Code, relating to tax rates and credits for the business privilege tax, by amending the credit for contributions to community development corporations to allow a business that terminated a contribution agreement to remain eligible for future tax credits under the provision that permits two businesses to apply jointly for the tax credit, under certain terms and conditions.