Bill Text: CA AB755 | 2017-2018 | Regular Session | Chaptered
Bill Title: Local agencies: capital investment incentive program.
Sponsorship: Partisan Bill (Democrat 2)
Status: (Passed) 2017-10-12 - Chaptered by Secretary of State - Chapter 709, Statutes of 2017. [AB755 Detail]
Download: California-2017-AB755-Chaptered.html
| Assembly Bill No. 755 |
| CHAPTER 709 |
An act to amend Section 51298.5 of the Government Code, relating to economic development.
[
Approved by
Governor
October 12, 2017.
Filed with
Secretary of State
October 12, 2017.
]
LEGISLATIVE COUNSEL'S DIGEST
AB 755, Eduardo Garcia.
Local agencies: capital investment incentive program.
Existing law, until January 1, 2018, authorizes a county, city and county, or city to establish a capital investment incentive program, pursuant to which the county, city and county, or city is authorized to pay a capital investment incentive amount to the proponent of a qualified manufacturing facility for up to 15 consecutive years.
This bill would extend that authorization to January 1, 2019.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 51298.5 of the Government Code is amended to read:51298.5.
(a) This chapter shall remain in effect only until January 1, 2019.(b) A capital investment incentive program established pursuant to this chapter before January 1, 2019, may remain in effect for the full term of that program, regardless of the repeal of this chapter.
