As first reported by The Examiner, Mayor Gavin Newsom did introduce legislation that would provide a tax break for small businesses, defined, in this case, as those with between 20 and 49 employees, who are complying with The City’s health care law.
In a statement released Wednesday, Newsom said: “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. 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.”
The legislation would provide businesses with 20 to 49 employees an annual $2,000 payroll tax credit to help offset the cost of providing health care to workers.
