New legislation offers $10,000 Tax Credit or Grant for hiring Ex-Offenders

(PHILADELPHIA, November 1, 2007)— Philadelphia City Council has unanimously approved the Philadelphia Re-Entry Employment Program (“PREP”) Bill introduced by City Councilman At-Large W. Wilson Goode, Jr. this fall. The legislation augments Goode’s existing Job Creation Tax Credit Law – which is helping to create over 2500 new jobs - with a new initiative created by former councilman and Democratic Mayoral Nominee Michael A. Nutter. The new legislation will grant a $10,000-per job credit against City business privilege taxes for 3 years to companies that create new jobs for ex-offenders – but the company must agree to provide tuition support for the education or training of each qualifying employee. The PREP Bill, as amended, will now also offer a $10,000 grant to non-profit organizations in lieu of the tax credit.