Section 7117.

Latest version.

A business located within a local agency military base recovery area shall be eligible for the tax benefits set forth within Sections 17053.45, 17053.46, 17268, 17276.2, 23645, 23646, 24356.8, and 24416.2 of the Revenue and Taxation Code only if it provides a net increase in jobs in the local agency military base recovery area within the first two years from the business' initial date of operation. If the business fails to meet its obligations under the local agency military base recovery area plan or the requirements of this act, any tax benefits received under those sections shall be recaptured, as provided in each of those sections.

(Added by Stats. 1993, Ch. 1216, Sec. 1. Effective October 11, 1993. Repealed as of January 1, 2014, pursuant to Section 7119. See same-numbered section added by Stats. 1998, Ch. 1012.)

                    
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