Local Business Tax Receipts

Summary

The bill adds a new requirement that anyone applying for or renewing a local business tax receipt, whose work involves transactions covered by the U.S. Treasury’s Office of Foreign Assets Control sanctions, must provide an active OFAC license or authorization. Online renewals can satisfy this by electronic certification. The measure would take effect on October 1, 2026.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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