This month’s Government Relations Update video highlights crucial legislative developments for California’s manufacturing sector.
The California Legislative Summer Recess is approaching on July 3, 2024. This date marks the deadline for policy committees to meet and report bills, after which the State Legislature will take a break and reconvene on August 5, 2024.
AB 2922 (Garcia), a CMTA Maker Bill, is aimed at revitalizing the recently expired Capital Investment Incentive Program. If successful, this bill will extend the program until January 1, 2035, providing financial incentives to attract qualified manufacturers to California. AB 2922 promotes economic growth, job creation, and regional development by allowing counties and cities to offer tax benefits to manufacturers with significant capital investments. This bill has been referred to the Senate Local Government Committee and represents a substantial opportunity for the state’s manufacturing sector to continue to thrive.
Learn more about CMTA’s bills here.