Income taxation: credits: California Competes Tax Credit Committee: GO-Biz.

Existing law allows a credit against the taxes imposed under the Corporation Tax Law and the Personal Income Tax Law for each taxable year beginning on or after January 1, 2014, and before January 1, 2025, in an amount as provided in a written agreement between the Governor's Office of Business and Economic Development and the taxpayer, agreed upon by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. Existing law limits the aggregate amount of credit that may be allocated in a fiscal year. Existing law requires the Governor's Office of Business and Economic Development to post on its Internet Web site specified information, including the name of each taxpayer allocated a credit, the estimated number of jobs created or retained and the amount of investment by the taxpayer, the amount of credit allocated to the taxpayer, and, if applicable, the amount of credit recaptured from the taxpayer. This bill additionally would require the Governor's Office of Business and Economic Development to post on its Internet Web site, the primary location where the taxpayer has committed to increasing the net number of jobs or make investments, information that identifies each tax credit award that was given a priority for being located in an area of high unemployment or poverty, and information that identifies each tax credit award that is being counted toward the amount of the credit required to be allocated to small business, as provided.