The Center of the California Enterprise Zone Information Universe

New Hiring Tax Credit Proposal for the City of Los Angeles

Via Bruce Dobb’s “Government Money for Small Biz” blog, the City of Los Angeles is considering a new credit against City business taxes for hiring new employees:

Citing Los Angeles’ higher than the national average unemployment rate and the necessity for tax relief for businesses/employers during the current recession, City Council President Eric Garcetti introduced a motion in City Council calling for enactment of an ordinance to establish a local job creation tax credit.1

The proposed ordinance, which was referred to the City Council’s Jobs and Business Development Committee, would give Los Angeles businesses/employers a $1,000 to $5,000 tax credit against the City’s business tax for every resident they hire, and remain in effect until the unemployment rate is reduced to pre-recession levels.2

On September 14, 2010, the City Council’s Jobs and Business Development Committee, Chaired by Council Member Richard Alarcon, voted unanimously in favor of the Garcetti-Smith motion and referred the matter to the City Council for consideration.


Leave a Reply

You must be logged in to post a comment.

Follow maxshenker on Twitter

Receive By Email

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