Yesterday I sent out information about the Governors Budget Revise and Enterprise Zones. I have some additional information that might be interesting to you.
First the Governors plan will require a two thirds vote.
Second the credit will apply only to wages above $12 up to $28 per hour. The Enterprise Zone program gave a credit up to $12 per hour.
Third the credit is 35% of wages each year for a total over 5years of 175%.. Current Enterprise Zone 50% first year and declines 10%each year until total reached 150%.
Fourth and this is important the employer needs to retain employee three years. If they get a credit and the employee leaves the employer has to return the credit.
There is an interesting bill pending in Sacramento AB 880, What it does is require businesses with 500 or more employees to pay 110% of the commercial rate for health insurance
for all employees that are on Medical. This would include all employees who work 8 hours or more. It requires a two thirds vote,
This is a good example of how gut and amend works. This bill started out as an EDD Data Collection bill and in April it was gutted and amended into its current form.
Small Business California
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