To amend Chapter 19-4400 of The Philadelphia Code, entitled "Development Impact Tax," to end imposition of the tax, under certain terms and conditions.

To amend Chapter 19-4400 of The Philadelphia Code, entitled “Development Impact Tax,” to end imposition of the tax, under certain terms and conditions. THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Chapter 19-4400 of The Philadelphia Code is hereby amended as follows: TITLE 19. FINANCE, TAXES AND COLLECTIONS * * * CHAPTER 19-4400. DEVELOPMENT IMPACT TAX § 19-4401. Imposition of Tax. (1) There is hereby imposed a tax on the privilege of constructing any structure for human occupancy for residential purposes, or making any improvements to any such structure, for which a building permit is required pursuant to Section A-301.1.1. * * * (3 ) Exemptions. No tax required by this Chapter shall be imposed upon the following improvements. * * * (d) Improvements that the Department of Planning has certified are either: (.1) made in connection with a rental-housing project funded in whole or part by a loan or grant from the City, which project will be bound by either a restrictive covenant or a regulatory agreement with the City that requires that that all units must satisfy the standards for Moderate Income rental housing set forth in Section 14-702(7) of the Code; or (.2) made in connection with a project for owner-occupied housing that involves improvements on land that has been provided by the City at a below market price and that will be bound by either a restrictive covenant or a regulatory agreement with the City which provides that each owner-occupied unit be…