Section 1603-D.1. Payroll tax.
Notwithstanding any provision of law to the contrary, in the event that the rate of a payroll tax imposed by a city of the second class A, or a home rule municipality that was previously a city of the second class A, under section 123(d)(2) of the act of July 10, 1987 (P.L.246, No.47), known as the Municipalities Financial Recovery Act, produces less than the revenues projected in the first full year after the imposition of a payroll tax, the city may, for a second year, adjust the rate to one that is sufficient to produce revenues equal to the revenues collected as a result of the mercantile or business privilege tax in the final year it was levied. The city may levy the payroll tax in any subsequent year at a rate not to exceed the adjusted rate authorized under this section.
(1603-D.1 added Oct. 30, 2017, P.L.725, No.44)