Lawmakers Approve Tax Credits
Sacramento, CA — A couple of Governor Schwarzenegger’s requests have been met by the legislature.
Lawmakers have sent the Governor bills establishing another homebuyer tax credit, and a sales tax exemption for environmental technology firms.
The legislation was quickly approved by the legislature in order to ensure the Governor’s signature on a transportation funding bill.
A $10,000 tax credit will be available for first time homebuyers to purchase new or existing homes, or for any resident that purchases a newly built home.
The sales tax exemption will be available for environmental technology firms to purchase manufacturing equipment.
The Governor also requested a $3,000 tax credit for businesses that hire new employees, but that request was not met.
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