CA AB2922

Reestablishes capital investment incentive programs for counties, cities, and city-counties until January 1, 2035, allowing them to pay property tax incentives to qualified manufacturing facilities for up to 15 consecutive fiscal years.

Extends eligibility to manufacturing facilities with initial investments exceeding $25,000,000 (in addition to existing $150,000,000 threshold), with incentive amounts based on assessed value exceeding the investment threshold.

Requires proponents to enter into community services agreements including job creation plans, employer-sponsored health benefits for all workers, and average weekly wages at or above state average for non-management employees.

For facilities with $25,000,000 investments, adds enhanced job creation plan requirements including hiring preferences for local and disadvantaged workers, targeted hiring programs, skill development support, and specified compensation commitments.

Requires local agencies to report to the Governor's Office of Business and Economic Development annually by June 30, with biennial reports to the Legislature beginning October 1, 2026.