Title
Ordinance amending and supplementing the Pittsburgh Code, Title Two, Fiscal, Article VII, Business Related Taxes, Chapter 253 Parking Tax, Subsection 253.02 Levy and Rate, by freezing the rate of taxation at 45% for Budget Year 2008 and directing that funds be earmarked and deposited equally into the Debt Service Reserve Fund and the Comprehensive Municipal Pension Trust Fund.
Body
Be it resolved that the Council of the City of Pittsburgh hereby enacts as follows:
Section 1. That the Pittsburgh Code is hereby amended and supplemented at Title Two, Fiscal, Article VII, Business Related Taxes, Chapter 253 Parking Tax, Subsection 253.02 Levy and Rate, as follows:
ยง 253.02 TAX LEVY AND RATE.
(a) A tax for general revenue purposes is hereby imposed upon each parking transaction by a patron of a nonresidential parking place, at the rate of thirty-one (31) percent effective January 1, 2004 and increased to fifty (50) percent effective February 1, 2004 of the consideration for each parking facility transaction. The tax shall be collected by the operator from the patron, and shall be paid over to the Treasurer as provided in this chapter. For all transactions occurring on or after January 1, [2007] 2008, the rate of tax shall be forty-five (45) percent.
(b) All taxes collected by any operator in accordance with this Chapter shall constitute a trust fund for the benefit of the City and such trust shall be enforceable against the operator and any person receiving any part of such fund without consideration, or with knowledge that the operator is committing a breach of trust; provided however, that any person receiving payment of a lawful obligation of the operator from such fund shall be presumed to have received the same in good faith and without any knowledge of the breach of trust.
(c) Any operator required under this Chapter to collect tax from a patron, who shall fail to collect the tax, shall be liable for the tax upon the full consideration received from the patron.
(d) Beginning in the year 2008, using the 2007 approved Five (5) Year Plan, the difference between the actual revenue received and the estimated revenue shall be deposited into two accounts. Fifty (50) percent of those monies will be deposited into the Debt Service Reserve Fund and the other Fifty (50) percent will be deposited into the Comprehensive Municipal Pension Fund. These funds must be deposited into the appropriate accounts on, or prior to, December 31st of each remaining year of the Plan.