Senator Dave Min (D-Irvine) announced his Senate Bill (SB) 408 advanced out of the Senate Governance and Finance Committee today with unanimous, bipartisan support.
As new reports indicate small businesses are at risk of being left behind in the economic recovery efforts, the bill establishes a tax credit available for restaurants and hospitality firms across the state.
“I’m grateful to my colleagues for passing my SB 408, advancing this critical measure to provide additional, targeted small business relief with unanimous, bipartisan support,” Min said. “My colleagues and I have worked hard to ensure there are lifelines available to struggling small businesses, but additional help is needed, particularly for family-owned restaurants and hospitality firms. This bill could potentially make the difference between a business that stays open and a business that has to shut their doors.”