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California Enterprise Zone Update: Assembly Vote Results

As a follow up to our previous post, “California Enterprise Zone Tax Credits…Could Change Be Around the Corner?”, we highlighted activity in the California Assembly that could affect your ability to take advantage of various tax credit programs currently available.

Yesterday, the California Assembly voted on the amended Assembly Bill (AB) 93 and passed it with a vote of 54-16. This bill, amended by the Senate Committee on Budget and Fiscal Review on Monday and passed by the full Senate on Tuesday, repeals the Enterprise Zone hiring credit, sales and use tax credit and other similar credits.

Senate Bill (SB) 90 is moving through the Senate committee and is expected to act as an amendment to the language of AB 93. While SB 90 is meant to clean up the typos in AB 93, it also means additional changes to the new program should be expected.

While AB 93 repeals the current Enterprise Zone program at the end of this year, employees qualified through the repeal date will continue to qualify for credit throughout the normal five-year period. There is still time to maximize the available benefits under the current program.

The new credit is still subject to further changes but the opportunity will include new areas of the state, exclude retail type businesses, and focus on target groups such as long term unemployed, Veterans, Ex-Offenders and other Economically Disadvantaged individuals.  

Learn more about leveraging tax credits and incentives with help from ADP.


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