Committee on Finance 3-03-26

The Philadelphia City Council Committee on Finance held a public hearing on March 3, 2026, to discuss several bills related to city operations and financial management. Key topics included the authorization for Philadelphia Gas Works (PGW) to issue revenue notes up to $150 million to finance working capital needs, and an extension of a natural gas storage service agreement with Transcontinental Gas Pipeline Company to secure stable rates and ensure reliable service for ratepayers. Additionally, the committee reviewed a concession agreement with Ancestry.com to digitize and provide public access to the city's vital historical records at no cost to taxpayers, enhancing public access through libraries and schools. Another significant discussion focused on amending the realty transfer tax to exempt heirs inheriting family homes with outstanding mortgages, aiming to alleviate financial burdens on families and address tangled title issues, thereby supporting generational wealth preservation. All bills discussed received favorable recommendations and motions to suspend council rules for expedited readings at the next session.