Amending Chapter 19-4400 of The Philadelphia Code, entitled "Development Impact Tax," to clarify the exemption for rental housing projects, all under certain terms and conditions.

Amending Chapter 19-4400 of The Philadelphia Code, entitled “Development Impact Tax,” to clarify the exemption for rental housing projects, all under certain terms and conditions. THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Title 19 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. * * * (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 or other agreement with the City that provides [requires that] that all units must [satisfy] meet the [standards for] definition of Moderate Income rental housing set forth in Section 14-702(7) (a)(.1)(.a) of the Code; or * * * SECTION 2. Section 1 of this Ordinance shall be retroactive to July 1, 2025. ___________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added.