The Center of the California Enterprise Zone Information Universe

California Competes Tax Credit Update

On October 31, GO-Biz released a set of emergency regulatory changes which can be found here.

For the application period ending October 27, GO-Biz received 286 applications. According to their press release:

For fiscal year 2014-15, GO-Biz is authorized to award $151.1 million in tax credits of which 25% ($37.7 million) is reserved for small businesses. These allocations will be determined over three award periods scheduled for January 15, 2015 ($45 million), April 16, 2015 ($75 million) and June 18, 2015 ($31.1 million plus any unallocated amounts from the previous application periods).

As of the October 27th application deadline, GO-Biz received 286 applications with a combined tax credit request of $329 million.

In its initial round with $30 million of credit available, GO-Biz received 396 applications asking for $559 million making this second round significantly less competitive than the first.

Follow maxshenker on Twitter

Receive By Email

Enter your email address and receive the EZ Policy Blog by email.