Caballero
Author
The Personal Income Tax Law authorizes a credit against the taxes imposed by that law in an amount equal to the lesser of 5% of the purchase price or $10,000 in the case of the purchase of a qualified principal residence on and after March 1, 2009, and before March 1, 2010, but not to exceed an aggregate limitation of $100,000,000 for all credits allowable. Existing law requires a certification that the residence has never been occupied be provided to the Franchise Tax Board within one week of the sale of the qualified principal residence. This bill would limit the credit to taxpayers who purchased a qualified principal residence on and after March 1, 2009, and before July 3, 2009, and on and after the effective date of this bill and before March 1, 2010. This bill would also require the aggregate limitation of credits to be reduced by a specified amount per certification received by the Franchise Tax Board. (2) The bill would appropriate the sum of $44,000 from the General Fund to the Franchise Tax Board, in augmentation of a specified appropriation made in the 2009-10 Budget Act. (3) This bill would declare that it is to take effect immediately as an urgency statute.
Died on Senate third reading file.
Read second time. To third reading.
Withdrawn from committee. Ordered placed on second reading file.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR.
In committee: Placed on Appropriations suspense file.
From committee: Do pass, and re-refer to Com. on APPR. Re-referred. (Ayes 8. Noes 0.) (August 26).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on REV. & TAX.
(Page 1907.)
Joint Rule 62(a), file notice suspended.
In committee: Referred to REV. & TAX. suspense file.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on REV. & TAX.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time, passed, and to Senate. (Ayes 71. Noes 4. Page 1849.)
From committee: Do pass. (Ayes 17. Noes 0.) (May 28).
Read second time. To third reading.
Read second time and amended.
From committee: Amend, do pass as amended, and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 18).
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
In committee: Hearing postponed by committee.
From printer. May be heard in committee March 29.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB765 | HTML |
| 02/26/09 - Introduced | |
| 05/11/09 - Amended Assembly | |
| 05/13/09 - Amended Assembly | |
| 05/21/09 - Amended Assembly | |
| 06/24/09 - Amended Senate | |
| 08/25/09 - Amended Senate | |
| 09/04/09 - Amended Senate |
| Document | Format |
|---|---|
| No related documents. |
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