Ted Lieu
- Democratic
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 38% 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 The provisions would be repealed on January 1, 2016.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 These provisions would be repealed on January 1, 2018.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.
Approved by the Governor.
Chaptered by Secretary of State. Chapter 543, Statutes of 2013.
Enrolled and presented to the Governor at 4:30 p.m.
Assembly Rule 69(d) suspended. (Page 3272.)
Assembly amendments concurred in. (Ayes 36. Noes 2. Page 2434.) Ordered to engrossing and enrolling.
In Senate. Concurrence in Assembly amendments pending.
Read third time. Passed. (Ayes 73. Noes 0. Page 3273.) Ordered to the Senate.
Read third time and amended. (Page 3197.)
Ordered to third reading.
Assembly Rule 69(e) suspended. (Page 3196.)
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.) (August 30).
Set, first hearing. Referred to APPR. suspense file.
Set, first hearing. Referred to REV. & TAX. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (August 12). Re-referred to Com. on APPR.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 34. Noes 3. Page 1197.) Ordered to the Assembly.
Read second time and amended. Ordered to third reading.
From committee: Do pass as amended. (Ayes 5. Noes 0. Page 1008.) (May 23).
Set for hearing May 23.
Placed on APPR. suspense file.
Set for hearing May 13.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 1. Page 751.) (May 1). Re-referred to Com. on APPR.
Set for hearing May 1.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
From printer. May be acted upon on or after March 14.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB209 | HTML |
| 02/11/13 - Introduced | |
| 04/03/13 - Amended Senate | |
| 05/24/13 - Amended Senate | |
| 09/04/13 - Amended Assembly | |
| 09/11/13 - Amended Assembly | |
| 09/18/13 - Enrolled | |
| 10/04/13 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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