Bocanegra
Author
The Personal Income Tax Law, in modified conformity with federal law, provides various exclusions from gross income in computing tax liability. This bill would, in reference to specified federal income tax laws, provide that gross income does not include 50% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, for taxable years beginning on or after January 1, 2008, and before January 1, 2013, as provided. The provisions would be repealed on January 1, 2016. The bill, with regard to personal income tax, would provide that a penalty shall not be imposed with respect to the additional tax, as defined, of a taxpayer, and interest shall not accrue with respect to the additional tax of that taxpayer due for the taxable year. The bill would require the Franchise Tax Board, in the case of a liability for additional tax of a taxpayer, notwithstanding certain other eligibility requirements, to enter into an agreement to accept the full payment of the additional tax in installments over a period not to exceed 5 years. These provisions would be repealed on January 1, 2018. The bill would authorize any claim for credit or refund pursuant to the bill to be filed within 180 days of its effective date, as provided. The bill would make a legislative finding and declaration regarding the public purpose served by the bill. The bill would state that its provisions are not severable, except as provided.
Chaptered by Secretary of State - Chapter 546, Statutes of 2013.
Approved by the Governor.
Enrolled and presented to the Governor at 4:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 0. Page 3287.).
Ordered to third reading.
In Assembly. Concurrence in Senate amendments pending.
Read third time. Passed. Ordered to the Assembly. (Ayes 36. Noes 1. Page 2354.).
Withdrawn from committee.
Re-referred to Com. on RLS. pursuant to Senate Rule 29.10(c).
Read second time. Ordered to third reading.
From inactive file.
Read second time and amended. Ordered to second reading.
Ordered to second reading.
Ordered to inactive file at the request of Senator Padilla.
Read second time. Ordered to third reading.
From committee: Be placed on second reading file pursuant to Senate Rule 28.8.
In committee: Set, first hearing. Hearing canceled at the request of author.
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 7. Noes 0.) (July 3).
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1828.)
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 17. Noes 0.) (May 24).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (April 29). Re-referred to Com. on APPR.
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
From printer. May be heard in committee April 19.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1412 | HTML |
| 03/19/13 - Introduced | |
| 05/24/13 - Amended Assembly | |
| 07/10/13 - Amended Senate | |
| 09/06/13 - Amended Senate | |
| 09/18/13 - Enrolled | |
| 10/04/13 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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