California Revenue and Taxation Code

§ 23689

RTC § 23689 Effective Jun 30, 2022Div. 2 · Part 11 · Ch. 3.5

Statute text

(a)(1) For each taxable year beginning on and after January 1, 2014, and before January 1, 2030, there shall be allowed as a credit against the “tax,” as defined in Section 23036, an amount as determined by the committee pursuant to paragraph (2) and approved pursuant to Section 18410.2.

(2)The credit under this section shall be allocated by GO-Biz with respect to the 2013–14 fiscal year through and including the 2027–28 fiscal year. The amount of credit allocated to a taxpayer with respect to a fiscal year pursuant to this section shall be as set forth in a written agreement between GO-Biz and the taxpayer and shall be based on the following factors:

(A)The number of jobs the taxpayer will create or retain in this state.

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Legislative history

Amended by Stats. 2022, Ch. 55, Sec. 14. (AB 194) Effective June 30, 2022. Repealed as of December 1, 2030, by its own provisions.