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• <br /> EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET I. <br /> PROJECT TITLE: <br /> An Ordinance relating to the Briefing COUNCIL BILL# C_BU7Q ) <br /> New Job Tax Credit and Proposed Action Originating Department Finance <br /> Adding a New Provision to Consent Contact Person Susy Haugen <br /> EMC 3.24.105 (Ord. 3175-10) Action Phone Number 425-257-8612 <br /> First Reading FOR AGENDA OF January 18,2017 <br /> Second Reading <br /> Third Reading <br /> Public Hearing <br /> Budget Advisory Initialed by: <br /> Department Head <br /> CAA <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> Ordinance Legal,Finance <br /> Amount Budgeted -0- <br /> Expenditure Required -0- Account Number(s): <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: <br /> The proposed new provision to EMC 3.24.105 clarifies that new job tax credits will be allowed to be <br /> transferred to another taxpayer if the person entitled to claim credit is wholly-owned by the taxpayer <br /> receiving the credit or the taxpayer receiving the credit is wholly-owned by the person entitled to claim the <br /> credit. <br /> RECOMMENDATION(Exact action requested of Council): <br /> Adopt an Ordinance relating to the New Job Tax Credit and adding a new provision to EMC 3.24.105 (Ord. <br /> 3175-10). <br /> 1 <br />