California Revenue and Taxation Code

§ 18410.2

RTC § 18410.2 Effective Jan 1, 2023Div. 2 · Part 10.2 · Ch. 1 · Art. 1

Statute text

(a)The California Competes Tax Credit Committee is hereby established. The committee shall consist of the Treasurer, the Director of Finance, and the Director of the Governor’s Office of Business and Economic Development, who shall serve as chair of the committee, or their designated representatives, and one appointee each by the Speaker of the Assembly and the Senate Committee on Rules. A Member of the Legislature shall not be appointed.

(b)For purposes of Article 4.4 (commencing with Section 12096.6) of Chapter 1.6 of Part 2 of Division 3 of Title 2 of the Government Code and Sections 17059.2 and 23689, the California Competes Tax Credit Committee shall do all of the following:

(1)Approve or reject any written agreement for a tax credit or grant allocation by resolution at a duly noticed public meeting held in accordance with the Bagley-Keene Open Meeting Act (Article 9 (commencing with Section 11120) of Chapter 1 of Part 1 of Division 3 of Title 2 of the Government Code), but only after receipt of the fully executed written agreement between the taxpayer and the Governor’s Office of Business and Economic Development.

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Legislative history

Amended by Stats. 2022, Ch. 28, Sec. 146. (SB 1380) Effective January 1, 2023.