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AB 485 Update

I just received an email from Toni Symonds, the chief consultant for the Assembly Committee on Jobs, Economic Development and the Economy. She sent along a preview of amendments which should go into print (and thus be available online) on Aug. 7. She said to expect a hearing on the bill on Aug. 8.

The most interesting points to me are:

  1. There is no mention of modifying the EIR requirement in the new zone application process — a major issue to CAEZ.
  2. They are deleting the revision to the definition of TEA.
  3. Something to be added that “Authorizes the continuation of tax benefits to those areas within a terminating zone, which will also be included in the new zone.” I’m not quite sure what this means, but it sounds very interesting.

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