California Passes Bill to Ban City Tax Deals Like Apple’s (1)

Sept. 5, 2019, 9:38 PM UTCUpdated: Sept. 5, 2019, 10:04 PM UTC

A bill to ban California cities from giving a portion of their sales-tax revenue to companies like Apple Inc. and Best Buy Co., to entice them to locate in their boundaries, is on its way to Gov. Gavin Newsom.

S.B. 531 by Sen. Steve Glazer (D) passed the Assembly 43-16 Sept. 5, six days after members voted it down with a 35-21 vote. Eleven Democrats who didn’t cast votes Aug. 30 voted in favor on the second try. The bill passed the Senate in May.

“We want to prevent right now a race to the bottom where billions are given ...

Learn more about Bloomberg Tax or Log In to keep reading:

See Breaking News in Context

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools and resources.