BILL ANALYSIS
AB 2476
Page 1
Date of Hearing: May 12, 2010
ASSEMBLY COMMITTEE ON APPROPRIATIONS
Felipe Fuentes, Chair
AB 2476 (V. Manuel Perez) - As Amended: April 13, 2010
Policy Committee: Jobs, Econ.
Development & the Economy Vote: 6 - 0
Urgency: No State Mandated Local Program:
No Reimbursable:
SUMMARY
This bill changes the definition of a targeted employment area
(TEA) in an Enterprise Zone after January 1, 2011, to include an
area within a city or county that is composed solely of those
census block groups designated by the United Sates Department of
Housing and Urban Development as having at least 61% of its
residents living at low- or moderate income levels.
FISCAL EFFECT
Costs associated with this legislation would be minor and
absorbable within existing resources.
COMMENTS
Purpose . By the author's admission, this bill is a vehicle that
he intends to substantially amend in the Senate to overhaul the
state's laws governing enterprise zones. The author is currently
holding meetings with various interested parties to determine
how the program should be restructured.
This bill currently tightens the criteria for designating a TEA
for the purposes of establishing one of 13 worker eligibility
criteria under the Enterprise Zone (EZ) hiring tax credit
requirements. Under current law, 51% of the population in an
area needs to be low or moderate income. After January 1, 2011,
that percentage would become 61% under this legislation.
Analysis Prepared by : Julie Salley-Gray / APPR. / (916)
319-2081