READ AND PASSED

This enacted bill amended Philadelphia’s Business Income and Receipts Tax rules for tax year 2013. It increased from 1% to 2% of the previous year’s related tax revenues the maximum total amount of tax credits that could be available in a year for businesses creating new jobs.

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by revising the total amount of all tax credits available in any year for new job creation, under certain terms and conditions.