Ban Big Box Relocation Subsidies, California (2004)
Topics: Economic/Small Business | legislation
A follow up to AB 178, this law prohibits local officials from subsidizing the relocation of big box retailers from one city to another within the same market area. Instead of calling for a process of revenue sharing, it bans outright the practice of towns offering: “tax exemptions, rebates, reductions, or moratoria of a tax…appropriation of public funds, including loans, grants, or subsidies…The sale or lease of real property at a cost that is less than fair market value…[or] Payment for, forgiveness of, or reduction of fees.” In other words, a halt to the practice of providing public funding to big box corporations whose annual profits run in the billions.
