AB 2428

Bill Subjects

Abstract

The Enterprise Zone Act provides for the Department of Housing and Community Development's designation and oversight of various economic development areas in the state, including, but not limited to, enterprise zones, pursuant to which qualifying entities in those areas may receive various tax and regulatory incentives. This bill would establish the Green Technology Zone Pilot Program and authorize the City of Elk Grove and the City of Livermore, respectively, to participate in the program. The bill would authorize those governing bodies to designate, by resolution or ordinance, a green technology zone, as defined, within each one's respective jurisdiction. The bill would authorize those governing bodies to, by resolution or ordinance, adopt or suspend specified local laws to encourage economic development. The bill would prohibit a resolution or ordinance adopted for this purpose from preempting state law, and would require the resolution or ordinance to be subordinate to state law. The bill would also establish various incentives for economic development within a designated green technology zone, including, among others, a tax credit for the purchase of qualified property, as defined, a tax credit for the employment of a qualified employee, as defined, a 5% preference in specified solicitations for bids on contracts for goods by California-based companies located within a green technology zone, and the authority for state and local agencies to lease land to a business in a green technology zone at a price below fair market value, if that lease serves a public purpose. The bill would require an individual or business that takes advantage of these incentives to enter into agreements with state, local, regional, or county programs, or a qualified nonprofit organization, that provides education, job training, or career opportunities for individuals under 22 years of age, relating to clean technology, renewable energy, or energy efficiency. This bill would make legislative findings and declarations as to the necessity of a special statute for the Cities of Elk Grove and Livermore.