The Personal Income Tax Law and the Corporation Tax Law allow a credit against the taxes imposed under those laws, 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 provides for the allocation of credit amounts through the 2017–18 fiscal year and limits the aggregate amount of credit that may be allocated in a fiscal year. This bill, for the credits described above as may be authorized for allocation for the 2018–19 fiscal year through the 2023–24 fiscal year, would allow up to 50% of the unallocated and recaptured credit amount, if any, from the preceding fiscal year to be reserved as a preliminary allocation to taxpayers that create or retain regionally significant jobs in a manufacturing, research and development, or testing facility, or a corporate headquarters, if the city, county, or city and county that is competing for the establishment, expansion, or retention of a manufacturing, research and development, or testing facility, or a corporate headquarters applies to GO-Biz on behalf of the taxpayer, as provided.
Sponsored bills
This measure would declare the support of the Legislature for the expansion of sensory-friendly movie screenings and similar programs for people with autism, and would encourage families to attend a sensory-friendly movie screening during April 2018, which is National Autism Awareness Month.
This measure would proclaim April 16, 2018, as California Holocaust Memorial Day and would urge all Californians to observe this day of remembrance for the victims of the Holocaust in an appropriate manner.
This measure would urge the Congress of the United States to implement revised dam safety and inspection requirements, with specified components, for all federally operated and regulated dams and reservoirs for the purpose of ensuring public safety.
This measure would recognize September 20, 2018, and every year on that date thereafter, as California Surfing Day to celebrate the California surfing lifestyle, would commend all those who honor the history, culture, and future of surfing, as well as the sport of surfing and the protection of our beach and ocean environments, would express support for future surfers and encourage potential surfing Olympians to work diligently, and would encourage all Californians to enjoy California Surfing Day.
This measure would recognize 2018 as the milestone 50th Anniversary of the Napa County Agricultural Preserve, and further recognize the critical part the hundreds of growers, vintners, local leaders, and members of the Napa community play to preserve the beauty and splendor of the valley and its agricultural industries, for this and future generations.
This measure would proclaim the month of April 2018 as Black April Memorial Month.