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Supervisors forward ordinance postponing new gross‑receipts rates, preserving startup credits for targeted ZIP codes
Summary
The Budget and Appropriations Committee voted 3–0 on July 12 to forward an ordinance that delays new gross‑receipts tax rates and preserves startup credits for businesses opening in specified ZIP codes concentrated downtown; a neighborhood advocate urged removing credits for tech and AI firms.
The San Francisco Board of Supervisors Budget and Appropriations Committee on July 12 voted 3–0 to forward to the full Board an ordinance that postpones the imposition of certain new gross‑receipts tax rates and defines startup tax credits for new business locations in specified ZIP codes.
The ordinance, as read into the record, would extend through Dec. 31, 2024 the gross‑receipts tax rates that were in effect on Jan. 1, 2022 for several business activities and postpone the implementation of rates scheduled to take effect Jan.…
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