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California Eliminate Tax Benefits in Enterprise Zones (2014)

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A California Initiative to Eliminate Tax Benefits in Enterprise Zones (#13-0005) was approved for circulation in California as a contender for the November 4, 2014 ballot as an initiated state statute.

If the initiative had qualified for the ballot and been approved by the state's voters, it would have eliminated the additional state income tax deductions and credits that can be taken by businesses operating within economically distressed areas designated as enterprise zones under California law.

Supporters of the measure called it the "Corporate Tax Break Accountability Act."

Text of measure

Ballot title:

Repeals State Tax Benefits Granted Businesses Operating in Economically Distressed Areas. Initiative Statute.

Official summary:

"Eliminates the additional state income tax deductions and credits that may be taken by businesses operating within economically distressed areas designated as enterprise zones under California law."

Fiscal impact statement:

(Note: The fiscal impact statement for a California ballot initiative authorized for circulation is jointly prepared by the state's Legislative Analyst and its Director of Finance.)

"Increased state revenues of around $1 billion per year upon full implementation. Potential net increases or decreases in revenues of certain local governments depending on how the elimination of enterprise zones affects future decisions of businesses about where to locate, expand, or hire workers."

Path to the ballot

See also: Signature requirements for ballot measures in California

External links

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