AB 894

Bill Subjects

Abstract

The Personal Income Tax Law allows various credits against the taxes imposed by that law. Existing law requires any bill authorizing a new personal income tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements, as provided. This bill would, for taxable years beginning on or after January 1, 2016, allow a credit in an amount equal to 15% of the tuition paid or incurred during the taxable year by a taxpayer for education and training obtained by the taxpayer or a dependent of the taxpayer at a vocational institution, as defined, not to exceed $2,500 per taxable year. The bill would also include that additional information required for any bill authorizing a new personal income tax credit. This bill would take effect immediately as a tax levy.