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AB 1159

Assemblyman V. Manuel Perez, Chairman of the Jobs, Economic Development and the Economy Committee, and recently appointed to lead a new Assembly economic taskforce, has introduced AB 1159.  This bill extends the Sales or Use tax credit benefit of the Enterprise Zone (and TTA and LAMBRA) program to include a credit for the purchase of equipment related to renewable energy.  The extra benefit is only temporary until 2016, but the credit can be applied against the taxpayers’ “net tax.”

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