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CA AB726

Bill

Status

Passed

7/23/2021

Primary Sponsor

Eduardo Garcia

Click for details

Origin

State Assembly

2021-2022 Session

AI Summary

  • Adds businesses engaged in manufacturing fuels, electrical parts, or components for clean transportation, alternative fuel vehicles, or electric vehicles to the list of eligible operators of qualified manufacturing facilities under the capital investment incentive program.

  • Clarifies that "special district" for purposes of ad valorem property tax revenue allocation payments does not include school districts or community college districts.

  • Maintains existing requirements that qualified manufacturing facilities must have initial investments exceeding $150 million and participate in community services agreements with job creation plans and average weekly wage requirements.

  • Allows cities and special districts to pay amounts equal to their allocated ad valorem property tax revenues (excluding school and community college districts) toward the incentive program with governing body approval.

Legislative Description

Capital investment incentive program: qualified manufacturing facility: ad valorem property tax revenue allocation payments.

Last Action

Chaptered by Secretary of State - Chapter 121, Statutes of 2021.

7/23/2021

Committee Referrals

Governance and Finance5/12/2021
Rules4/8/2021
Local Government2/25/2021

Full Bill Text

No bill text available