Philadelphia City Council Committee on Finance, 17 Oct 2022

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From YouTube: Committee on Finance 10-17-2022

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The Committee on Finance of the Council of the City of Philadelphia held a Public Hearing on Monday, October 17, 2022 to hear testimony on the following items:

220659
An Ordinance amending Bill No. 220401, entitled “An Ordinance Amending Chapter 19-1500 of The Philadelphia Code, entitled ‘Wage and Net Profits Tax,’ by revising certain tax rates, under certain terms and conditions,” to correct a typographical error in stating the period in which a reduction in the resident Net Profits Tax rate is applicable.

220660
An Ordinance amending Bill No. 210284, entitled “An Ordinance Amending Chapter 19-2600 of The Philadelphia Code, entitled ‘Business Income and Receipts Taxes,’ by revising certain tax rates, under certain terms and conditions,” to fix a mistake in identifying the tax year to which a tax reduction applies, so that the tax reduction applies in FY2023, all under certain conditions.

220742
An Ordinance authorizing an increase in the non-electoral indebtedness of the City within the Pennsylvania constitutional limit; authorizing the Bond Committee to sell bonds at public or private negotiated sale, to provide funds toward various capital municipal purposes; providing for appropriations to the Sinking Fund Commission for the payment of such bonds; and authorizing agreements to provide credit or payment or liquidity sources for the bonds in connection with issuance of the bonds, and certain other actions.

A

A

Members and participants, we are now live.

B

Thank you. Everyone today is Monday October 17th for the committee on finance. uh Good morning. Before we begin the public hearing I will make the following announcements. Due to the continued threat of Public Health from covid-19 city council committees are currently meeting remotely.

B

We are using Microsoft teams to make these remote hearings possible instructions for how the public maybe view or offer public testimony at public hearings. A council committees are included in the public hearing, notices that are published in the Philadelphia Daily News inquire and legal intelligenture prior to the hearings and can also be found on phlcounsel.com I now know that the hour has come Mr mcgonneville, you please call the roll to take attendance from members that are in attendance. Please indicate that you are present when your name is being called.

C

Councilwoman Bass.

D

Good morning, Mr chairman Carly, he's in the city of Philadelphia.

C

Councilwoman game good morning, Mr, chair and colleagues, I am present councilman Jones good morning Mr chair colleagues, Eagles fans, Phillies fans around the city councilman, oh.

E

And council member squiller.

B

Good morning, colleagues present, thank you, acquirement committee is President and the hearings now called to order. This is a public hearing of the committee on finance regarding bill number.

B

220659-220-660 and 220-742 Mr mcmonagle, you please read the title of the bill.

E

Open um I'll, I'll read all three bills before it.

E

Testimony bill number two: two: zero: six: five: nine amending bill number two: two: zero four: zero one entitled an ordinance amending chapter 19-1500 of the Philadelphia code entitled wage and net profits tax by revising certain tax rates under certain terms and conditions to correct a typographical error in stating the period in which a reduction in the Resident net profits, tax rate is applicable and Bill number 220660 amending bill number two: one: zero: two: eight four entitled an ordinance amending chapter, 19-2600 of the Philadelphia code entitled business income and receipts taxes by revising certain tax rates under certain terms and conditions, to fix a mistake in identifying the tax year to which a tax reduction applies, so that the tax reduction applies in fy2023, all under certain terms and conditions and Bill number 220742 authorizing an increase in that non-electoral.

E

Indebtedness of the city within the Pennsylvania constitutional limit authorizing the bond committee to sell bonds at public or private negotiated sale to provide funds toward various Capital Municipal purposes, providing for Appropriations to the sinking fund commission for the payment of such bonds and authorizing agreements to provide credit or payment or liquidity sources. For the bonds and connections with issuance of the bonds and certain other actions.

B

Thank you, Mr, canonical before we begin to hear the testimony from the witnesses we have for today. Everyone who has been invited to the meeting to testify should be aware that this public hearing is being recorded. Recall the hearing is public participants and viewers have no reasonable expectation of privacy. By continuing to be in the meeting, you are consenting to being recorded additionally prior recognizing members for questions or comments they have for the witnesses.

B

I will note for the record at this time that we will use the chat feature available on Microsoft teams to allow members to signify that they wish to be. They wish to be recognized in order to comply with the sunshine act. The chat feature must only be used for this purpose. Mr mcmonagle. Can you please call the panel uh to be testifying this morning for the first bill.

E

Yes, can we have Mr Rob Dube.

A

Good morning, um she cares: okay, if I do all three bills at once. In my testimony, yes,.

B

Absolutely thank you great thanks.

A

Okay, good morning, uh chair scula and members of finance committee, I'm Rob, dubo fan instructor and I'm joined by colleagues from the budget office Department of Revenue and the treasurer's office. I want to thank you for the opportunity to testify in support of bills, 220659-220-660 and 220-742 about bills. Two two: zero: six: five, nine and two two zero six60 provide technical corrections to the net profits, tax and business income and receipts tax legislation that was enacted earlier this year.

A

The changes will conform, the code to the rates intended by Council and that were subsequently included in The Five-Year Plan that was submitted to and approved by Pico Bill 220742 authorizes the loan for the FY 23 capital budget, which was approved by City Council in June, such new legislation, slightly larger to account for amendments to the final capital budget passed by Council and is also needed due to some technical issues with the advertising. The original loan authorization this spring. That concludes my testimony and we're available to answer any questions. The committee may have.

B

Wow, that was a great testimony there Rob. uh We appreciate it um just for clarity and I know that um these bills mainly are for uh technical purposes and for changes of the intent of the council's legislation. Is there anything else um beside the changes I know in the I guess it was final bill that there was a an additional um added to that language.

A

Yeah in the for the loan authorization Bill, the initial loan authorization bill was based on the proposed budget from the administration. This version of the loan authorization also includes the Amendments that were made during the budget process in discussions with Council.

B

Right and they were agreed on both by Council and the administration, so this change is necessary. So I I appreciate that I will see if there's any uh questions uh for Mr debeau on these bills.

B

Seeing none is there anyone else to testify.

B

Also I'd like to recognize councilman now is present at the hearing. uh It's Mr mcmonagle or is there anybody else to testify or any public comment uh for this for these these bills? No.

E

Mr chairman, we have no further testimony.

C

B

Hearing no further questions from members and there being no other panelists to testify. We will take a brief break to connect members of the public that wish to testify, and since there aren't any, uh we will move on to ending the meeting ending the hearing.

B

This will conclude the hearing and will not go into a public meeting.

B

Being no further questions from members of the committee and no other witnesses to testify, while we asked if there, if anyone else present in the hearing whose name we have failed to call at this time, wish it all for testimony on the bill being considered today, since there is none I want to thank all the panels and Witnesses for their participation. Today, we value your opinions. We now invite all panels. When does the police disconnect from the meeting before we go into our public meeting, we will now pause for the proceedings.

B

Briefly, as multiple participants leave the hearing.

B

Thank you. This concludes a public hearing of the committee, we're now going to a public meeting to consider the actions to be taken on this on these bills before this committee today.

B

Mr mcmonagle, we please call the role of members.

C

Councilwoman Bass.

D

C

Councilwoman game.

C

Councilman Jones president councilman, oh present, councilman squilla.

C

B

We now have a quorum and the chair will recognize council member bass for emotional bill number 220659.

D

Thank you, Mr chairman I'll, move that bill number 220-659 uh be reported from this committee with a favorable recommendation. Second,.

B

I noted that councilmember Jones second, the motion it has been moved and properly. Second, the bill number 220659 be approved. All those in favor of the motion will signify by saying aye aye any opposed the eyes have it. The motion carries bill. Number 220659 will be reported from this committee with a favorable recommendation and further move that the rules accounts will be suspended as to permit the first reading of this bill at the next session of council.

B

The chair recognizes councilmember bass for emotional bill number 220660.

D

Chairman I moved at bill number 220660. We moved from this committee with a favorable recommendation. Second,.

B

The motion has been moved and properly second uh and favorable recommendation to spend the council for first reading of this bill, the next session to cancel all in favor aye aye any opposed the eyes have it. It's been moved and properly seconded the eyes. Have it and the motion carries bill. Number 220660 will be reported from this committee with a favorable recommendation and the further booth that the rules accounts will be suspended to permit the first reading of this bill at the next session of council.

B

The chair now recognizes councilmanas for emotional bill number 220742.

D

Thank you, Mr chairman I, move that bill number 220-742 be removed from this committee, move from this committee, but the favorable recommendation, and also for a uh a suspension of the rules. Second,.

B

For the record second to buy council member Jones, it has been moved on property. Second, at the bill number two two zero be approved, um but all in favor say aye, aye, aye any opposed the eyes have it, and the motion carries for Bill number. Two: two zero. Seven four two be reported from this committee with a favorable recommendation and further move that the rules accounts will be suspended to permit the first reading of this bill at the next session of council.

B

Is there any other additional remarks.

B

Seeing none this will conclude the business before the committee of Finance today. Thank you all very much and thank you for your quick testimony and uh for the business is done today. Thank you very.

C

Much chairman thank.

D

You Mr chairman.

B

Have a great day.