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CA AB726
Bill
Status
7/23/2021
Primary Sponsor
Eduardo Garcia
Click for details
AI Summary
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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.
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Clarifies that "special district" for purposes of ad valorem property tax revenue allocation payments does not include school districts or community college districts.
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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.
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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