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The vetoed bill would have amended Philadelphia’s parking tax rules and set scheduled tax rates for people who park or store vehicles in city parking facilities, including valet parking customers. It proposed keeping the rate at 20% through Fiscal Year 2013, then reducing it to 19% in 2014, 18% in 2015, and 17% beginning in 2016, along with technical changes to the tax code.

Amending Chapter 19-1200 of The Philadelphia Code, entitled "Parking Tax," by providing for scheduled reductions in the rate of the tax beginning in Fiscal Year 2012, and by making certain technical amendments, all under certain terms and conditions.