Carol Liu
- Democratic
Author
The Personal Income Tax Law allows various credits against the taxes imposed by that law, including certain credits that are allowed in modified conformity to credits allowed by federal income tax laws. This bill would, for taxable years beginning on or after January 1, 2015, and before January 1, 2026, allow a credit based upon earned income that is equal to 15% of the earned income tax credit allowed by federal law. The bill would require the Franchise Tax Board to report to the Legislature regarding the utilization of the tax credit, as provided. This bill would take effect immediately as a tax levy.
From committee without further action.
Held in committee and under submission.
Set for hearing May 23.
Placed on APPR. suspense file.
Set for hearing May 12.
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 0. Page 3256.) (April 24).
April 23 hearing rescheduled for April 24.
Set for hearing April 23.
From printer. May be acted upon on or after March 23.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1189 | HTML |
| 02/20/14 - Introduced | |
| 04/29/14 - Amended Senate |
| Document | Format |
|---|---|
| No related documents. |
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