The California Competes Tax Credit is an income tax credit available to businesses that  want to come to California or stay and grow in California. Tax credit agreements will be negotiated by GO-Biz and approved by a newly created “California Competes Tax Credit Committee,” consisting of the State Treasurer,the Director of the Department of Finance, the Director of GO-Biz, one appointee each by the Speaker of the Assembly and Senate Committee on Rules. 

Updates

GO-Biz is proposing to amend and re-adopt the California Competes Tax Credit emergency regulations that are scheduled to expire on August 20, 2014. This action is necessary to prevent a delay in awarding tax credits during this fiscal year. The amended regulations, notice of emergency regulations, and finding of emergency can be found at the following links:
California Competes Tax Credit Regulations

Notice of Emergency Regulations

Finding of Emergency

Overview Video