►
From YouTube: Committee on Finance 10-30-2018
Description
The Committee on Finance of the Council of the City of Philadelphia held a Public Hearing on Tuesday, October 30, 2018, at 10:30 AM to hear testimony on the following items:
180870 An Ordinance amending Section 21-2302 of The Philadelphia Code, entitled "Form of Fiscal Impact Statements," by amending Exhibit "A" to add job growth or loss information, all under certain terms and conditions.
180909 An Ordinance amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by extending the period that Net Operating Losses can be carried, all under certain terms and conditions.
Committee on Finance
Chair: Councilwoman Jannie Blackwell (3rd District)
Vice Chair: Councilman Bobby Henon (6th District)
A
B
1808
7-0
an
ordinance
amending
section,
21
23:02
of
the
Philadelphia
Code
entitled
form
of
fiscal
impact
statements
by
mending
exhibit
a
to
add
job
growth
or
loss
information,
all
under
certain
terms
and
conditions
and
1809
o.9,
an
ordinance
amending
chapter,
19
2600
of
the
Philadelphia
Code
entitled
business
income
and
receipt
taxes
by
extending
the
period
that
net
operating
losses
can
be
carried
all
under
certain
terms
and
conditions.
Thank.
A
A
C
You
good
morning,
councilman
Blackwell
and
members
of
the
committee
Rob
du
Bois
find
an
instructor
for
City,
Philadelphia
and
I'm
here
to
testify
on
bill
1
808
700,
which
proposes
to
include
estimates
for
job
growth
or
job
loss.
Where
applicable
for
the
fiscal
impact
statements,
we
support
the
desire
to
evaluate
the
impact
on
job
growth
or
loss
in
combination
with
other
variables,
like
revenues
or
program
costs.
When
considering
legislation,
estimating
the
impact
of
various
proposals
and
jobs
can
at
times
be
complex
and
imprecise.
C
Finance
will,
however,
provide
the
job
impact
analysis
when
possible,
when
the
estimates
will
be
meaningful
for
decision
makers.
The
legislations
approve
the
office
of
budget
and
program
evaluation
and
the
research
and
analysis
staffs
within
the
Department
of
Revenue
would
work
together
to
produce
estimates
when
data
is
available,
we'll
also
consult
with
our
colleagues
in
the
Commerce
Department
and
other
offices
with
relevant
experience.
That
concludes
my
testimony
and
be
happy
to
answer
any
questions
you
might
have.
A
D
A
A
E
Thank
you,
madam
chair
I,
simply
want
to
say
that
this
I
think
is
a
much-needed
ordinance,
as
it
relates
to
laws
carried
forward.
Putting
us
in
line
with
the
federal
and
state
governments
and
I
think
it's
something
that's
very,
very
important
to
attracting
new
business,
protect
particularly
technological
businesses
in
the
city
of
Philadelphia,
but
because
the
state,
even
though
it
allows
citizens
of
Pennsylvania
to
do
a
20-year
carry
forward,
does
not
allow
citizens
of
the
first
citizen
cities
of
the
first
class
to
have
that
same
carry
forward
as
they
do
so.
E
I
would
like
to
amend
the
bill
in
Section
two
making
the
effective
date
of
this
ordinance
shall
take
effect
upon
the
in
the
enactment
of
authorizing
legislation
by
the
Commonwealth
of
Pennsylvania.
Pennsylvania,
General,
Assembly
and
I
have
circulated
that
to
all
members
and
wish
a
positive
vote
on
that.
Thank.
D
A
D
A
Has
been
moved
and
properly
seconded
that
bill
number
one:
eight
zero,
eight
seven
zero
be
reported
from
this
committee
with
the
favorable
recommendation
of
further
move
that
the
wounds
of
council
be
suspended
so
as
to
permit
first
reading
of
this
bill
at
the
next
session
of
council.
All
those
in
favor
of
the
motion
say:
aye
aye.
D
A
The
eyes
have
it
and
the
motion
carries
and
bill
number
one:
eight,
zero.
Eight
seven
zero
will
be
reported
from
this
committee
with
the
favorable
recommendation
and
a
request
that
the
rules
of
council
be
suspended
so
as
to
permit
first
reading.
At
our
next
session
council
chair
now
recognizes
councilman
taubenberger
for
motion
on
the
amendment
to
build
number
one:
eight:
zero,
nine,
zero,
nine!
Yes,.
E
A
And
seconded
that
the
amendments,
the
bill
number
one,
eight,
zero,
nine,
zero
nine
be
approved.
All
those
in
favor
of
the
motion
will
signify
that
I.
Those
opposed
the
motion
carries
and
and
bill
number
one,
eight,
zero,
nine
zero
nine
has
been
amended.
We
will
be
holding
that
bill
in
committee.
Are
there
further
comments?
We.