This ordinance updates the Business and Tax Regulations Code to implement changes from Proposition F, which modifies the gross receipts tax and eliminates the payroll expense tax, as well as Proposition L, which introduces a tax on overpaid executives. It also includes clarifications and minor adjustments to the existing regulations.
Ordinance amending the Business and Tax Regulations Code to revise its common administrative provisions and other provisions to implement Proposition F amending the gross receipts tax and repealing the payroll expense tax and Proposition L imposing the overpaid executive gross receipts tax, approved at the November 3, 2020, election, and make clarifying and other nonsubstantive changes.
How it got here
This legislation originated from the need to implement changes mandated by Propositions F and L, which were approved by voters in November 2020.
Voters approved Proposition F, which amended the gross receipts tax and repealed the payroll expense tax, and Proposition L, which imposed the overpaid executive gross receipts tax.
The Office of the Treasurer and Tax Collector introduced an ordinance to amend the Business and Tax Regulations Code to implement the changes from Propositions F and L.
The Budget and Finance Committee reviewed the proposed ordinance and recommended it for further consideration.
The Board of Supervisors passed the ordinance on its first reading, moving it closer to final approval.
The Board of Supervisors finally passed the ordinance, completing the legislative process.
The Mayor approved the ordinance, officially enacting the changes to the Business and Tax Regulations Code.
Reconstructed from attached documents & the official record
