CHAPTER 19-3200. KEYSTONE OPPORTUNITY ZONE, ECONOMIC DEVELOPMENT DISTRICT, AND STRATEGIC DEVELOPMENT AREA 594

 

Notes

594

Added, Bill No. 980788-A (approved December 30, 1998). Section 2 of the enrolled bill and attached exhibits describe in detail the areas of the City collectively designated as the Philadelphia Keystone Opportunity Zone, and Section 2 further provides that the descriptions set forth in Section 2 shall control over the general "known-as" descriptions set forth in Section 19-3201. Section 3 of the enrolled bill provides that the Ordinance shall be effective January 1, 1999, but only if the Commonwealth's Department of Community and Economic Development designates a Keystone Opportunity Zone in Philadelphia, and only for such period of time as the Commonwealth provides for exemptions, abatements or credits with respect to sales and use tax, personal income tax, corporate net income tax and capital stock franchise tax for businesses and residents in such zone, as set forth in The Pennsylvania Keystone Opportunity Zone Act of October 6, 1998, P.L. 705, No. 92, and only in such zone as is designated by the Commonwealth. See note to subsection 19-3201(3). Amended, Bill No. 040642 (approved July 1, 2004). Section 4 of Bill No. 040642 provides: "The provisions of this Ordinance shall take effect as follows: * * * (3) Section 3 [amending The Philadelphia Code] shall take effect immediately upon enactment of, and only to the extent of, authorization by the General Assembly. To the extent not authorized by the General Assembly, any such inconsistent part of Section 3 shall not take effect. Notwithstanding anything to the contrary, however, with respect to any building that has been constructed or construction of which has begun as of the effective date of this Ordinance in the West Philadelphia Subzone of the Philadelphia Keystone Opportunity Improvement Zone, nothing in Section 3 shall apply to such building or to any business doing business in that building, whether under a lease signed on or prior to the date hereof or any time hereafter, with respect to any business attributable to such West Philadelphia Subzone location." Because the State implementing legislation contemplated by Section 4 of Bill No. 040642 has not been enacted, the changes set forth in Bill No. 040642 have not become effective and hence are not shown here. Caption amended, Bill No. 050504-A (approved July 8, 2005). Section 3 of Bill No. 050504-A provides: "This Ordinance shall be effective upon designation by the Commonwealth Department of Community and Economic Development of the property identified by Section 2 hereof as an Economic Development District, and only for such period of time as the Commonwealth provides for exemptions, abatements or credits with respect to sales and use tax, personal income tax and corporate net income tax for businesses in such district, as set forth in The First Class Cities Economic Development District Act, Act of December 1, 2004, No. 226, and only in such District as is designated by the Commonwealth." Amended, Bill No. 071081 (approved December 21, 2007). See note 613 for effective date provisions.