Mike Eng
- Democratic
Author
Existing law requires the Department of Finance to report annually to the Legislature with regard to tax expenditures, as defined. Existing law requires the report to include specified information. This bill would require the report to include, if available, anticipated revenue loss, as specified. At the time of the submission of the Governor's Budget to the Legislature, existing law requires the Director of Finance to submit to the Legislature total recommended state General Fund expenditures and estimated state General Fund revenues, as specified. This bill would require the report to include, for each tax expenditure exceeding $5,000,000 in annual cost, an estimate of the loss of revenue due to the tax expenditure in the upcoming fiscal year. The bill would also require the State Board of Equalization and the Franchise Tax Board to submit to the Department of Finance and the Legislature, on or before December 1 of each calendar year, a report on the fiscal and tax effect of tax expenditures from sales and use tax, personal income tax, and corporation tax that have an annual revenue loss of at least $5,000,000, as specified.
Consideration of Governor's veto pending.
Vetoed by Governor.
Enrolled and presented to the Governor at 4:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 54. Noes 23. Page 6247.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 24 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 23. Noes 15. Page 4653.).
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time. Ordered to third reading.
From committee: Be placed on second reading file pursuant to Senate Rule 28.8.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 3.) (June 28).
In committee: Set, first hearing. Hearing canceled at the request of author.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on GOV. & F.
Read third time. Passed. Ordered to the Senate. (Ayes 50. Noes 27. Page 5061.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 12. Noes 5.) (May 25).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 2.) (February 23). Re-referred to Com. on APPR.
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 committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
Read first time.
From printer. May be heard in committee March 27.
Introduced. To print.
| Bill Text Versions | Format |
|---|---|
| AB2638 | HTML |
| 02/24/12 - Introduced | |
| 03/28/12 - Amended Assembly | |
| 04/17/12 - Amended Assembly | |
| 06/11/12 - Amended Senate | |
| 07/05/12 - Amended Senate | |
| 08/16/12 - Amended Senate | |
| 08/29/12 - Enrolled |
| Document | Format |
|---|---|
| No related documents. |
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