ENTERPRISE ZONE BILL CLEARS COMMITTEE.Byline: Daily News A bill to turn a corridor between Rosamond and Mojave into an enterprise zone, providing businesses with state tax credits, has cleared a state Senate committee. Senate Bill 1631, authored by W.J. ``Pete'' Knight, R-Palmdale, cleared the Senate Revenue and Taxation Committee on a 5-1 vote Wednesday, and now moves to the Senate Appropriations Committee In the United States government, the Appropriations Committee can refer to either:
``Historically, this committee has not looked favorably upon enterprise zones,'' Knight said. ``Therefore, the hardest test is yet to come.'' The bill would create two enterprise zones in east Kern Kern, river, 155 mi (249 km) long, rising in the S Sierra Nevada Mts., E Calif., and flowing south, then southwest to a reservoir in the extreme southern part of the San Joaquin valley. The river has Isabella Dam as its chief facility. County. The Rosamond-Mojave zone would run along the Antelope Valley Freeway The Antelope Valley Freeway is a freeway in Los Angeles and Kern counties in southern California. It is signed as California State Highway 14 along its length. It connects Greater Los Angeles to the rapidly developing Antelope Valley. and the Southern Pacific Railroad "Southern Pacific" redirects here. For the country-rock band, see Southern Pacific (band) The Southern Pacific Railroad (AAR reporting marks SP) was an American railroad. tracks that link the two communities. The other would include much of the Ridgecrest-Inyokern area along Highway 178. Businesses in an enterprise zone can receive such incentives as tax credits for sales or use taxes paid on the first $20 million spent for equipment or machinery, as well as deductions for interest income earned on investments. Employees can get some credit on their individual tax returns for wages earned from a firm in the zone. Companies also will be eligible for a credit up to five years and $24,000 per employee for workers hired through specific programs. Knight was the author of legislation that designated the portion of the Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley that is in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County as an enterprise zone. That enterprise zone, created in February 1997, was a major factor in attracting an electronics assembly firm and two warehouse/distribution operations in the past year to Lancaster and Palmdale, local officials say. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion