With a struggling economy and a massive budget deficit, California could use a jump-start. The California Enterprise Zone Program ("EZ Program") may not be a panacea for the State’s problems but can provide real monetary benefits to qualifying taxpayers eligible for state and local tax benefits. Created in 1984, the EZ Program (California Government Code Section 7070, et seq.) was established to “stimulate business and industrial growth in the depressed areas of the State.” Administered by the California Housing & Community Development Department ("HCD"), the EZ Program currently authorizes forty-two (42) enterprise zones, each with designations of 15 years and potential expansion rights up to 15% in geographic size.
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