READ AND PASSED
The enacted ordinance excludes interest and fees received on loans made under the federal New Markets Tax Credit program from the receipts counted for Philadelphia’s Business Privilege Tax. The exclusion applies beginning with Tax Year 2011 and affects businesses receiving this type of loan income.
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by providing for certain exclusions relating to investments made under the federal New Market Tax Credit program, under certain terms and conditions.
Pass2011-06-16
Action by CITY COUNCIL
A motion was made that this matter be READ AND PASSED. The motion carried by the following vote:
17 Yes·0 No·0 Absent
Roll Call
| Member | Vote |
|---|---|
| Anna Cibotti Verna | Yes |
| Bill Green | Yes |
| Blondell Reynolds Brown | Yes |
| Brian J. O'Neill | Yes |
| Curtis Jones, Jr. | Yes |
| Darrell L. Clarke | Yes |
| Donna Reed Miller | Yes |
| Frank J. DiCicco | Yes |
| Frank Rizzo | Yes |
| Jack Kelly | Yes |
| James F. Kenney | Yes |
| Jannie L. Blackwell | Yes |
| Joan L. Krajewski | Yes |
| Maria D. Quiñones-Sánchez | Yes |
| Marian B. Tasco | Yes |
| W. Wilson Goode, Jr. | Yes |
| William K. Greenlee | Yes |