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Public Policy Newsletter Article

State Legislature Continues Work as the Budget Looms

  • 2020-06-18T13:56:00.000+0000
  • California
  • Author: Jimmy Jackson

This year’s compressed state legislative session continues work on the 2020-21 state budget (see accompanying story) as it also makes progress on remaining bills, especially those related to the COVID-19 crisis. Legislative leadership in both houses have strongly encouraged members to minimize legislation that is not pressing this year or does not deal in some way with one of those subject areas.

One recently amended bill that Biocom is engaging on is SB 972, which would publicly identify on a Franchise Tax Board website companies with gross receipts above a certain threshold (currently identified as $5B), including those companies’ state tax liability and amount of any credits received. This bill is awaiting a vote on the Senate floor. The coalition (of which Biocom is a part) letter opposing the bill can be found here.

Other bills authors are still pursuing are still evolving, and Biocom continues to monitor changes closely as it is still difficult to assess what exactly will be pursued by legislators. You may keep current on the status of all bills Biocom is tracking here.