READ AND PASSED

The enacted bill adds a 1% Philadelphia sales and use tax on retail purchases of tangible goods and services, effective July 1, 2014. It directs the resulting revenue to the School District of Philadelphia and the City, with the school share changing from the first $120 million in fiscal year 2015 to 50% beginning in fiscal year 2018; the City's share is generally designated for municipal pension obligations, subject to limited debt-service use allowed by state law.

Amending Chapter 19-2700 of The Philadelphia Code, entitled "Sales and Use Tax and Hotel Occupancy Tax," by providing for additional sales and use tax and for the manner in which the tax revenues shall be used, all under certain terms and conditions.