Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Supervisors advance amendments to narrow payroll-tax exclusion tied to Twitter; hearing continued for a week
Summary
After hours of testimony, the Budget & Finance Subcommittee accepted edits to a proposed Central Market–Tenderloin payroll-exclusion aimed at attracting new jobs (and potentially Twitter). Staff projections show long‑term gains but short‑term foregone payroll taxes; supervisors continued the item for one week to refine boundaries and workforce safeguards.
Supervisor Carmen Hsu, chair of the Board of Supervisors— Budget & Finance Subcommittee, presided over a lengthy hearing on legislation that would create a limited payroll-expense tax exclusion for net new jobs in a narrowly defined Central Market and Tenderloin zone. Supervisor Kim, a prime sponsor, described the proposal as a six-year, targeted incentive aimed at filling vacant office space and spurring neighborhood retail and arts activity.
Jennifer Matz, director of the Office of Economic and Workforce Development, and Amy Cohen (neighborhood economic development) framed the measure as one tool in a broader Central Market Partnership strategy to fill storefronts, support arts groups and catalyze private investment. They said vacancy rates in parts of Central Market exceed 30 percent and that conventional tools (loan funds, tax credits, redevelopment) have…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
