California AB2069 exempts sales and use tax on property for approved projects at fairgrounds to encourage private investment.

California AB2069 adds Section 6372.9 to the Revenue and Taxation Code, creating the Fairground Act for Investment and Revitalization. This act exempts sales and use tax on property for approved projects at fairgrounds, aiming to encourage private investment, promote economic development, and generate new economic activity. The exemption applies to new developments or phases of existing projects approved by fairground governing bodies. The act includes performance indicators to measure its effectiveness, such as the number of approved projects and private capital investment.

California AB2069 exempts sales and use tax on property for approved projects at fairgrounds to encourage private investment.

California AB2069 adds Section 6372.9 to the Revenue and Taxation Code, creating the Fairground Act for Investment and Revitalization. This act exempts sales and use tax on property for approved projects at fairgrounds, aiming to encourage private investment, promote economic development, and generate new economic activity. The exemption applies to new developments or phases of existing projects approved by fairground governing bodies. The act includes performance indicators to measure its effectiveness, such as the number of approved projects and private capital investment.