Senate Bill 965 (Costa), as enacted on October 3, 1997, made the following changes to California law:
SUBJECT: Enterprise Zone/1996 Legislation Clean-Up
Section 7089 is added to the Government Code.
This act ensures that prior law enterprise zones and program areas remain in existence for taxable or income years beginning on or after January 1, 1996, and before January 1, 1997, for Revenue and Taxation Code purposes. Thus, taxpayers can finish their 1996 taxable or income year under the prior law (enterprise zone and program area) and start their 1997 taxable or income year under the new law (new enterprise zones).
Sections 17053.8, 17053.70 (Stats. 1996, Ch. 953), 17053.73, 17053.75 (Stats. 1996, Ch. 953), 17235, 17267, 23612.2 (Stats. 1996, Ch. 953), 23622, 23622.5, 24356.7, and 24384.5 are repealed from the Revenue and Taxation Code.
This act repeals the duplicate hiring credits, and business expense deduction, and net interest deduction that were enacted as a result of end of session amendments to AB 296 (Stats. 1996, Ch. 953) and SB 2023 (Stats. 1996, Ch. 955).
NOTE: Senate Bill 200 (Stats. 1997, Ch. 609) also contained language to repeal Sections 17053.70 (Stats. 1996, Ch. 953), 17053.75 (Stats. 1996, Ch. 953), 17235, 23612.2 (Stats. 1996, Ch. 953), and 24384.5.
NOTE: Senate Bill 455 (Stats. 1997, Ch. 611) also contained language to repeal Section 17267.
Sections 17053.17, 17053.75 (Stats. 1996, Ch. 955), 17256, 17260, 23036, 23623.5, 24345, 24349.1, 24356.5, 24422, and 24916 of the Revenue and Taxation Code are amended.
This act updates references to enterprise zone incentives to reflect the new incentive code section numbers that resulted from the enactment of AB 296 (Stats. 1996, Ch. 953) and SB 2023 (Stats. 1996, Ch. 955).
NOTE: The changes made by this act to Section 17053.75 (Stats. 1996, Ch. 955) were chaptered out by Senate Bill 200 (Stats. 1997, Ch. 609). However, since this act and SB 200 were double-joined and SB 200 contained the same provisions as this act, the enactment of SB 200 preserved the provisions of this act.
NOTE: The changes made by this act to Section 23036 were chaptered out by Senate Bill 1234 (Stats. 1997, Ch. 608). However, since this act and SB 1234 were double-joined and SB 1234 contained the same provisions as this act, the enactment of SB 1234 preserved the provisions of this act.
NOTE: The changes made by this act to Section 23623.5 were chaptered out by Assembly Bill 1040 (Stats. 1997, Ch. 605). However, since this act and AB 1040 were double-joined and AB 1040 contained the same provisions as this act, the enactment of AB 1040 preserved the provisions of this act.
NOTE: The changes made by this act to Section 24916 were chaptered out by Assembly Bill 1040 (Stats. 1997, Ch. 605) and Senate Bill 455 (Stats. 1997, Ch. 611). However, since this act and AB 1040 and SB 455 were double-joined and AB 1040 and SB 455 contained the same provisions as this act, the enactment of AB 1040 and SB 455 preserved the provisions of this act.
Sections 17053.74 and 23622.7 of the Revenue and Taxation Code are amended.
This act includes in the hiring credit provisions all changes made by both AB 296 (Stats. 1996, Ch. 953) and SB 2023 (Stats. 1996, Ch. 955) regarding the Long Beach enterprise zone.
NOTE: The changes made by this act to Sections 17053.74 and 23622.7 were chaptered out by Senate Bill 200 (Stats. 1997, Ch. 609). However, since this act and SB 200 were double-joined and SB 200 contained the same provisions as this act, the enactment of SB 200 preserved the provisions of this act.
This act specifies that it is effective January 1, 1997, and shall be given retroactive application.
This act does not require any reports by the department to the Legislature.