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Committee advances broadened enterprise-zone payroll tax credit with state tie and 15-year sunset
Summary
The committee advanced an ordinance to broaden eligibility for San Francisco's Enterprise Zone payroll tax credit to mirror many state categories, added a 15-year sunset and required firms to be prequalified under the State Enterprise Zone to limit fiscal exposure; budget analysts presented divergent cost scenarios.
The Government Audit and Oversight Committee on June 2 advanced an ordinance to expand San Francisco's Enterprise Zone payroll tax credit, broadening the categories of disadvantaged workers who qualify, aligning local boundaries with the State's, adding a 15-year sunset and requiring State Enterprise Zone prequalification for city benefits.
Emtine Metz of the Office of Economic and Workforce Development said the ordinance would remove the municipal requirement that an employer create a new job to qualify and extend the payroll tax credit to newly hired qualified employees, aligning local rules with the state program. She said the state program has evolved and now contains more…
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