BUSINESS NOTES REGULATION PAY NOW, SPRAY LATER

Faced with a growing epidemic of spray-painted graffiti on local walls and underpasses, the Los Angeles city council has been searching hard for ways to fight back against the unsightly scribbles. The legislators appear to be leaning toward an unusual solution: a 10 cents tax on every one of 12 million cans of spray paint sold in the city annually. Such a measure would provide as much as $1.2 million a year for cleanup efforts and education and prevention programs. Paint-industry officials, understandably upset at the idea, are lobbying against it. ''It's ridiculous to blame us simply because we make the product,'' says Rick Birle, president of Zynolyte Products, a major spray- paint manufacturer based in Carson, Calif. Nonetheless, the proposed spray tax may prove to be the lesser of two evils. The 15 city council members are also considering another measure, which would require store owners to force purchasers to fill out registration forms with every sale. The council hopes to vote on both ideas early next month.