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SB 301: New Enterprise Zone Bill

Senator DeSaulnier has amended SB 301 so that it now deals with how future Enterprise Zones will be created. The idea behind this measure has been bandied about for a few years already, but I think this is the first time it has appeared as a stand-alone bill.

In sum the bill would:

provide that for applications submitted on or after January 1, 2012, if any portion of the proposed zone is within, or was previously within, the boundaries of a previously designated zone, or if any portions of the proposed zone are within, or previously were within, the boundaries of 2 or more previously designated enterprise zones, the proposed enterprise zone would be prohibited from exceeding a specified aggregate size.

And the detail on the size limitation is as follows:

(1) If any portion of the proposed zone is within, or previously was within, the boundaries of a previously designated enterprise zone, then the aggregate size of the proposed enterprise zone shall not exceed the size of the previously designated enterprise zone by more than 15 percent.

(2) If any portions of the proposed zone are within, or previously were within, the boundaries of two or more previously designated enterprise zones, the aggregate size of the proposed enterprise zone shall not exceed the size of the largest single previously designated enterprise zone by more than 15 percent.

It seems a positive sign that Senator DeSaulnier seems convinced that Enterprise Zones will be around long enough for this to be a relevant issue.

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