David Chiu
- Democratic
Author
Existing law establishes a low-income housing tax credit program pursuant to which the California Tax Credit Allocation Committee provides procedures and requirements for the allocation of state insurance, personal income, and corporation income tax credit amounts among low-income housing projects based on federal law. Existing law, in modified conformity to federal income tax law, allows the credit based upon the applicable percentage, as defined, of the qualified basis of each qualified low-income building. Existing law limits the total annual amount of the credit that the committee may allocate to $70 million per year, as specified. This bill, for calendar years 2016 through 2021, inclusive, would increase the aggregate housing credit dollar amount that may be allocated among low-income housing projects by $100,000,000, as specified. The bill, under the insurance taxation law, the Personal Income Tax Law, and the Corporation Tax Law, would modify the definition of applicable percentage relating to qualified low-income buildings that meet specified criteria. This bill would incorporate additional changes to Sections 12206, 17058, and 23610.5 of the Revenue and Taxation Code proposed by SB 377 that would become operative if this bill and SB 377 are chaptered and this bill is chaptered last. This bill would take effect immediately as a tax levy.
Consideration of Governor's veto stricken from file.
Vetoed by Governor.
Enrolled and presented to the Governor at 2 p.m.
Assembly Rule 63 suspended. (Page 3211.)
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 3211.).
(Ayes 24. Noes 3. Page 2737.)
In Assembly. Concurrence in Senate amendments pending.
Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 2. Page 2759.).
Ordered to third reading.
Withdrawn from committee.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on RLS.
Senate Rule 29.3(b) suspended. (Ayes 26. Noes 1. Page 2715.)
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: Do pass. (Ayes 6. Noes 0.) (August 27).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 0.) (July 14). Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on T. & H. (Ayes 6. Noes 0.) (July 1). Re-referred to Com. on T. & H.
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1925.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 17. Noes 0.) (May 28).
Joint Rule 62(a), file notice suspended. (Page 1613.)
In committee: Set, first hearing. Referred to APPR. suspense file.
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 18).
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on REV. & TAX. (Ayes 7. Noes 0.) (April 15).
From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.
Re-referred to Coms. on H. & C.D. and REV. & TAX. pursuant to Assembly Rule 96.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
Referred to Coms. on REV. & TAX. and H. & C.D.
From printer. May be heard in committee January 1.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB35 | HTML |
| 12/01/14 - Introduced | |
| 03/02/15 - Amended Assembly | |
| 04/06/15 - Amended Assembly | |
| 04/16/15 - Amended Assembly | |
| 05/20/15 - Amended Assembly | |
| 09/03/15 - Amended Senate | |
| 09/10/15 - Amended Senate | |
| 09/14/15 - Enrolled |
| Document | Format |
|---|---|
| No related documents. |
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