Posts Tagged ‘transportation network companies’

Lawmakers Announce $357,000 for Philadelphia School District from Rideshare Revenues

State Sen. Vincent Hughes (D-Philadelphia/Montgomery) highlights the benefits of a new law regulating ridesharing companies during a Feb. 16 news conference at Philadelphia School District headquarters. Revenues collected from the ridesharing companies will benefit Philadelphia public school students. With him are (left to right) State Rep. Stephen Kinsey (D-Philadelphia), state Rep. Maria Donatucci (D-Philadelphia/Delaware) and Philadelphia School District Superintendent Dr. William Hite.

PHILADELPHIA, Feb. 16, 2017 — State Sen. Vincent Hughes today joined fellow lawmakers and officials from the School District of Philadelphia to announce that the school district has received its first installment of state funding — more than $357,000 — as a result of a new state law regulating rideshare companies in the City of Philadelphia and across the commonwealth.

“Today’s announcement is a result of a comprehensive effort to regulate rideshare companies statewide and ensure that they pay their fair share for conducting business in a major city,” said Hughes (D-Philadelphia/Montgomery). “In just a short time, revenue has been generated that will directly benefit our schools. This funding is expected to continue to grow as rideshare companies become a more popular transportation choice for consumers, and that’s good news for our school children.”

Two measures were enacted last year to secure this new source of funding for the school district.

Act 164 of 2016, which was signed into law last November, extends the regulation of Transportation Network Companies, such as Uber and Lyft, to include the City of Philadelphia. Under the law, the ridesharing companies are required to pay 1.4 percent of their gross receipts of all fares charged to customers for prearranged rides originating in the city. The revenue collected would be distributed 66.67 percent to the Philadelphia School District and 33.33 percent to the Philadelphia Parking Authority.

Additional revenues were collected with the passage of Act 85 of 2016, in which the state temporarily authorized the legal operation of rideshare companies in Philadelphia during the Democratic National Convention, collecting 1 percent of gross receipts.

The $357,593.31 represents the revenues collected during the temporary authorization, but it is estimated that the School District of Philadelphia will receive $2 million in revenues from the assessment this year.

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