Felipe Fuentes
- Democratic
Author
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit against those taxes for taxable years beginning on or after January 1, 2011, in an amount equal to a specified percentage of the qualified expenditures, as defined, attributable to the production of a qualified motion picture in California, or, where the qualified motion picture has relocated to California or is an independent film, as provided. Existing law allows specified qualified taxpayers to elect to assign the credit, requires specified information from qualified taxpayers that apply for a tax credit allocation, and imposes specified duties on the California Film Commission related to the administration of the credits, including a requirement to allocate the tax credits until July 1, 2015, and limits the aggregate amount of credits that may be allocated to qualified motion pictures in any fiscal year to $100,000,000, through the 2014–15 fiscal year. Existing law additionally allows, in lieu of the credits under the Personal Income Tax Law and the Corporation Tax Law for qualified motion pictures, a credit against qualified state sales and use taxes, as provided. This bill, under the Personal Income Tax Law and the Corporation Tax Law, would impose additional duties on the California Film Commission related to the administration of the credits and would extend the requirement to allocate the tax credits 2 additional years, until July 1, 2017. This bill would also extend the limit on the aggregate amount of credits that may be allocated through the 2016–17 fiscal year. This bill would also require assigning qualified taxpayers to provide the Franchise Tax Board with specified information, would revise the information included in an application for a tax credit allocation, and require the Legislative Analyst's Office to prepare reports related to the effectiveness and administration of the qualified motion picture credit under the Sales and Use Tax Law, the Personal Income Tax Law, and the Corporation Tax Law. This bill would require the California Film Commission to annually post on its Internet Web site and make available for public release specified information, including a list of qualified taxpayers and the tax credit amounts allocated to each qualified taxpayer by the commission. The bill would authorize various state agencies to disclose specified taxpayer information for purposes of the Legislative Analyst's Office report, and would impose specified criminal penalties on the disclosure of that information. By expanding the crime of knowingly and wrongfully accessing, using, or disclosing specified information, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. This bill would declare that it is to take effect immediately as an urgency statute.
Chaptered by Secretary of State - Chapter 841, Statutes of 2012.
Approved by the Governor.
Enrolled and presented to the Governor at 2:30 p.m.
In Assembly. Concurrence in Senate amendments pending.
Urgency clause adopted. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 69. Noes 5. Page 6798.).
Assembly Rule 63 suspended. (Ayes 49. Noes 27. Page 6795.)
Read third time. Urgency clause adopted. Passed. Ordered to the Assembly. (Ayes 33. Noes 2. Page 5053.).
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 5. Noes 0.) (August 29).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (August 29). Re-referred to Com. on APPR.
Joint Rule 61(b)(15) suspended. (Page 4911.)
Joint Rule 62(a), file notice suspended. (Page 4911.)
Senate Rule 29.3(b) suspended. (Page 4844.)
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on RLS.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 4. Page 5962.)
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 16. Noes 0.) (August 8).
In committee: Hearing postponed by committee.
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (May 14). Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 8. Noes 0.) (April 17). Re-referred to Com. on REV. & TAX.
Re-referred to Coms. on A.,E.,S.,T., & I.M. and REV. & TAX. pursuant to Assembly Rule 96(a).
Referred to Coms. on REV. & TAX. and A.,E.,S.,T., & I.M.
From printer. May be heard in committee March 25.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2026 | HTML |
| 02/23/12 - Introduced | |
| 08/13/12 - Amended Assembly | |
| 08/27/12 - Amended Senate | |
| 09/11/12 - Enrolled | |
| 09/30/12 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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