According to the Imperial Valley News:
AB 1564 Research & Development Tax Credit: With the goal of spurring innovation, business development, and job creation, AB 1564 bill would double the state’s research and development tax credit from 15% to 30%.
“An enhanced R&D tax credit helps to incentivize businesses to risk their capital to develop new products and technologies, helping to keep California at the front of the pack as an innovation leader,” said Pérez. “And when businesses are able to transform an idea into a product, it spurs economic development and local investment in the form of business creation and jobs.”
An increased research and development tax credit was also proposed as one element of Pérez’s 2013 bill, AB 653, the California Jobs and Innovation Act, which was held on suspense last year in Assembly Appropriations.