One of the most heated California ballot propositions to be voted on this November is Propositions 23. The significance of the proposed law is enormous, considering the state's booming green tech industry would suffer most from a voter rejection of the bill.
The bill would suspend the current Global Warming Solutions Act of 2006, which requires state utilities to acquire one-third of their energy from renewable resources by 2020, until state unemployment drops to 5.5 percent. The concern is that the current law, AB 32, along with its litany of other environmental regulations has contributed to state unemployment by forcing tax and financial burdens on businesses and entrepreneurs seeking to launch an LLC.
"As it stands, there is no other state that has a cap-and-trade program or has landmark legislation like AB 32, so it puts California manufacturers at a tremendous disadvantage with their competitors in other states as well as in other countries," said Jan Marie Ennenga, executive director of the Manufacturers Council of the Central Valley, to the Business Journal.
However, opponents of Prop. 23 submit that AB 32 is indeed an aggressive piece of legislation, but it is nonetheless a progressive and essential one. They see the law responsible for driving investment to California's green tech industry, while paving the way for other states to follow suit.
Tags : ca, incorporation information, small business management
Posted: Oct 19th, 2010