CA SB939

Allows taxpayers to sell enterprise zone hiring tax credits attributable to qualified employees in the City of Oroville enterprise zone to unrelated parties, subject to reporting requirements to the Franchise Tax Board

Requires sellers to report credit sales prior to transaction, including purchaser identification number, face amount of credit sold, and consideration received

Prohibits resale of credits by the acquiring party to other taxpayers and subjects credit purchasers to all requirements of the credit program

Prevents taxpayers from both claiming a credit on their own tax return and selling the same credit amount to another party

Takes effect immediately as a tax levy with findings that special legislation is necessary due to Oroville's unique circumstances