Monday, December 21, 2009

Newsom Brings Tax Relief To Businesses Partnering with the City on Healthy San Francisco

From California

Mayor Gavin Newsom introduced legislation to grant local small businesses a payroll tax credit against the costs of participating in Healthy San Francisco. The legislation will provide businesses with 20-49 employees an annual $2,000 payroll tax credit to help offset the cost of providing health care to workers.

"With this legislation, we are incentivizing and rewarding small businesses who are stepping up to the plate and participating in providing health care to employees," said Mayor Newsom. "The Healthy San Francisco Small Business Tax Credit will help ensure small businesses continue to be an engine of new job creation and economic recovery on the road to achieving our goal of universal health care."

If all qualifying businesses participate, the projected cost would be approximately $4 million, not including administration expenses.

Mayor Newsom also introduced legislation, co-sponsored by Supervisor Eric Mar, to help finance new residential and commercial renewable energy projects and energy and water efficiency in San Francisco. The new San Francisco Sustainable Financing Program (SF2) and San Francisco Sustainable Financing Special District allows building owners to access affordable, city-sponsored financing for energy efficiency, renewable energy and water conservation improvements.

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