AN ORDINANCE OF THE CITY OF WEST HOLLYWOOD AMENDING CHAPTER 3.36 (BUSINESS LICENSE TAX) OF THE WEST HOLLYWOOD MUNICIPAL CODE TO EXTEND FOR ONE YEAR A TEMPORARY TAX REBATE FOR ALL ELIGIBLE CANNABIS BUSINESSES THROUGH JUNE 30, 2027 [W. KAHOLOKULA, A. RUIZ, D. RIVAS, A. DURAN, L. BIERY, P. KESPRADIT, L. D'AMBROSIA]
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AI Summary
Using city funds, this ordinance extends a temporary 2% tax rebate for eligible cannabis businesses in West Hollywood through June 30, 2027, resulting in a $390,000 reduction in city revenue. This measure aims to support local cannabis businesses by reducing their tax burden, potentially allowing them to reinvest in their operations and contribute to the local economy.
How does this affect you?
For residents, this ordinance means that the city will collect $390,000 less in revenue, which could impact funding for other city services or projects. However, it supports local cannabis businesses, which may lead to more stable business operations and potentially more job opportunities in the community. Residents who are customers of these businesses might see benefits in terms of better services or pricing.
Fiscal impact
$390,000 reduction in city revenue
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