News from the GCVCC Business Legislative Advocacy Committee
The California Chamber of Commerce, the California Taxpayers Association, and the organizations listed in this letter are pleased to support AB 87 (Assembly Committee on Budget) and SB 113 (Senate Committee on Budget and Fiscal Review), both as amended on February 2, 2022. Specifically, we support the 2022-23 State Budget restoring the net operating loss (NOL) deduction and business incentive tax credits that were suspended and capped in the 2020-21 budget via AB 85 (Chapter 8, Statutes of 2020). Sunsetting the last year of the suspension and cap will assist employers in their economic recovery and incentivize them to remain in California.
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