Sandré Swanson
- Democratic
Author
The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws, including a credit for taxable years beginning on or after January 1, 2009, in an amount equal to $3,000 for each net increase of full-time employee hired during the taxable year by a qualified employer, as defined. Existing law caps the total amount of that credit that may be allocated under those provisions to $400,000,000. This bill would reduce the total amount of credit that may be allocated under those laws to $350,000,000. This bill would also authorize a credit against those taxes for each taxable year beginning on or after January 1, 2012, in an amount equal to $5,000, or a fraction thereof, for each net increase of full-time employees, that are paid no less than the state minimum wage, hired during the taxable year by a qualified employer. This bill would cap the total amount of credit that may be allocated to $50,000,000. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIII A of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy.
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
In committee: Set, first hearing. Held under submission.
In committee: Set, first hearing. Referred to APPR. suspense file.
Read second time and amended.
Joint Rule 62(a), file notice suspended. (Ayes 44. Noes 24. Page 3514.)
Assembly Rule 56 suspended. (Ayes 44. Noes 24. Page 3514.)
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 3.) (January 9).
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
In committee: Set, second hearing. Held under submission.
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
From printer. May be heard in committee March 6.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB236 | HTML |
| 02/03/11 - Introduced | |
| 01/05/12 - Amended Assembly | |
| 01/17/12 - Amended Assembly |
| Document | Format |
|---|---|
| No related documents. |
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