Brown faces bid to end California unitary tax
Sacramento AP Gov Brown is accused by Franchise Tax Board member William Bennett of trying to abolish California’s unitary tax to aid business interests. The unitary system taxes multinational profits by California activity, with critics arguing it misleads earnings. Appearing at the hearing was Richard Silberman.
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Cal Cities sue over tax increment financing system
A lawsuit filed in Los Angeles Superior Court by the Western Center on Law and Poverty and Legal Aid Society of Pasadena challenges tax increment financing used by Long Beach and 14 other Southern California cities. The suit argues the system taxes residents in other cities without representation while funding redevelopment projects, citing county revenue losses and higher tax rates. It seeks a declaration that tax increment financing is unconstitutional and injunctions barring further use.
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L A downtown redevelopment plan ballot scrapped by panel
SACRAMENTO AP A two sentence conference committee voted 5-1 to remove a retroactivity provision that would have opened a referendum on Los Angeles downtown redevelopment. The panel faced heated debate over the unitary tax and potential revenue impacts for cities including Industry Alhambra Burbank Cerritos Glendale Pasadena Santa Fe Springs and others.
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