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THE CITY OF 5 <br /> • CITY COUNCIL AGENDA REPORT <br /> pL EASANTON, <br /> April 3, 2012 <br /> Economic Development <br /> TITLE: APPROVAL OF AGREEMENT WITH STATE FRANCHISE TAX BOARD <br /> FOR PARTICIPATION IN CITY BUSINESS TAX PROGRAM <br /> SUMMARY <br /> Effective January 1, 2009, the State of California Franchise Tax Board (FTB) <br /> implemented the City Business Tax (CBT) Program under Senate Bill 1146, repealing <br /> AB63 Local Government Sharing Program. SB1146 allows for the reciprocal exchange <br /> of data between local governments and FTB with no cost to either agency. The City of <br /> Pleasanton has been participating in the CBT program since 2009, with the current <br /> agreement having expired as of December 31, 2011. The new agreement will be in <br /> effect from June 1, 2012 to December 31, 2014. <br /> RECOMMENDATION <br /> Approve a resolution authorizing an agreement with the State of California Franchise <br /> Tax Board, allowing for the exchange of confidential data between the City and FTB. <br /> FINANCIAL STATEMENT <br /> This is a non-financial agreement with no fiscal impact. <br />