The Governor’s Office of Business and Economic Development (GO-Biz) has announced that, for fiscal year 2019-2020, a total of $236,808,527 in California Competes Tax Credits (CCTC) is available for allocation. (GO-Biz Notice (June 28, 2019)) Credit applications will be accepted online at www.calcompetes.ca.gov during the following periods:
- July 29, 2019–August 19, 2019 ($90 million available);
- January 6, 2020–January 27, 2020 ($75 million available); and
- March 9, 2020–March 30, 2020 ($71.8 million plus any remaining unallocated amounts from the previous application periods).
Also, GO-Biz has updated and revised its CCTC FAQs to reflect two changes:
- In the “General” section Question 4: The table has been updated to show the cutoff ratios through the third application period in the 2018-2019 fiscal year; and
- Go-Biz has removed from the FAQs the section titled “Additional Economic Development Initiatives.”