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BREAKING: Budget Released Early – Proposes Enterprise Zone Reform Not Elimination

The Governor moved up the release of his 2012-2013 budget proposal from Jan. 10 to today. Under the heading “Supporting Job Creation,” the budget summary document says:

The resulting stability from a balanced budget will give businesses the certainty and the reassurance they need to invest in California. In addition, the Administration will propose legislation to reform the enterprise zone program and move to a mandatory single sales factor for apportioning multistate business income. Such changes will allow the state to afford investments in manufacturing, business incentives, and other tax relief.

Details of these reforms will follow in specific legislation.

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