AB 87 / SB 113 (Committee on Budget and Fiscal Review): Economic relief: COVID-19 pandemic
There was a California Emergency Relief fund created for the purpose of providing emergency relief to small businesses impacted by the COVID-19 pandemic. AB 87 and SB 113 support the 2022-23 State Budget that restores the net operating loss deduction and business incentive tax credits that were originally suspended and capped in the 2020-21 budget.
A support position on AB 87/SB 113 was requested from the Cal Chamber. We supported the bill and participated in the coalition letter on the following platform citation: Taxation & Government Reform 8: Support state programs that secure tax credits for targeted work training programs.