BAKERSFIELD, Calif. - More than 5,000 businesses in California and outside the state will be getting a welcome surprise in their mailboxes: refunds of security deposits paid to the Board of Equalization.
The Sacramento Bee reports Tuesday (http://bit.ly/1eob0MJ ) that the board has announced it is returning $27.6 million in cash deposits.
The refunds come following a decision in December to end automatic security deposit requirements for new businesses.
A review found declining benefits of requiring the deposits, compared with the cost of administering the program.
The BOE said it began issuing checks this week and will continue to do so for several weeks.
Kern County cities and the number of businesses listed to receive funds:
- Bakersfield - 51 businesses for a total of $5,850.00
- Shafter - 1 business for a total of $39,585.00
- Wasco - 4 businesses for a total of $28,575.00
- Delano - 3 businesses for a total of $20,020.00
- Tehachapi - 2 businesses for a total of $17,625.00
- McFarland - 3 businesses for a total of $16,650.00
- Ridgecrest - 2 businesses for a total of $14,437.00
- Taft - 2 businesses for a total of $7,650.00
- Rosamond - 2 businesses for a total of $6,750.00
- Arvin - - 1 business for a total of $5,850.00
- Lost Hills - 1 business for a total of $2,700.00
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