City budgets, including soda tax, signed into law

It's now official. Philadelphia Mayor Jim Kenney signed the city's budgets, which included the soda tax, into law.

Monday in the Mayor's Reception room, he was joined by more than a hundred of those who'd fought for the proposal to secure $300 million more for expanded pre-K, community schools, and improvements to parks, recreation centers and libraries.

Kenney thanked supporters and advocates who rallied on behalf of the soda tax, which his press release now refers to as a Sweetened Beverage Tax.

It passed City Council on Thursday.

That legislation calls for a levy of 1.5 cents per ounce on distributors of sweetened beverages, such as regular and diet sodas, juices with less than 50 percent fruit or vegetable juice. The tax will take effect Jan. 1, 2017.

It's expected to bring in nearly $410 million over five years. Some of that money will also go towards the city's general fund.