AB 1411 Summary

• Revises definitions and requirements for enterprise zones, targeted tax areas, local agency military base recovery areas (LAMBRAs), and manufacturing enhancement areas collectively known as geographically targeted economic development areas (G-TEDAs).

• Increases the maximum fee that the Department of Housing and Community Development can assess for certificate applications from $15 to $20, and requires any fee increases above the January 1, 2013 amount to be adopted by regulation.

• Establishes audit standards for G-TEDAs with three rating levels (superior, pass, fail) based on achievement of goals and objectives, with failing zones subject to corrective agreements or dedesignation.

• Requires the Franchise Tax Board to annually report to the department and Legislature on G-TEDA tax credits and incentives claimed, including job creation data, business information, and qualified property investments.

• Modifies enterprise zone designation criteria to allow larger zone expansions (up to 25 percent for rural cities and counties under 275,000 population) and requires updated biennial reporting on G-TEDA progress toward meeting commitments.