Cathleen Galgiani
- Democratic
Author
The Personal Income Tax Law provides for modified conformity to specified provisions of federal income tax law relating to the exclusion of the discharge of qualified principal residence indebtedness, as defined, from an individual's income if that debt is discharged after January 1, 2007, and before January 1, 2014, as provided. The federal Tax Increase Prevention Act of 2014 extended the operation of those provisions to debt that is discharged before January 1, 2015. The federal Protecting Americans from Tax Hikes Act of 2015 extended the operation of those provisions to debt that is discharged before January 1, 2017, and provides that its discharge provisions apply to specified written agreements entered into before January 1, 2017. This bill would conform to that additional discharge provision relating to specified written agreements and the federal extensions, some of which would be applied retroactively. The bill would discharge indebtedness for related penalties and interest and would make legislative findings and declarations regarding the public purpose served by the bill. This bill would declare that it is to take effect immediately as an urgency statute.
In Senate. Consideration of Governor's veto pending.
Vetoed by the Governor.
Enrolled and presented to the Governor at 3:30 p.m.
Read third time. Urgency clause adopted. Passed. (Ayes 79. Noes 0. Page 6563.) Ordered to the Senate.
Assembly Rule 63 suspended.
Ordered to third reading.
Withdrawn from committee.
Assembly Rule 96 suspended.
Assembly amendments concurred in. (Ayes 39. Noes 0. Page 5603.) Ordered to engrossing and enrolling.
In Senate. Concurrence in Assembly amendments pending.
August 11 hearing. Held in committee and under submission.
August 3 set for first hearing. Placed on APPR. suspense file.
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 9. Noes 0.) (June 20).
June 20 set for first hearing. Placed on REV. & TAX. suspense file.
In Assembly. Read first time. Held at Desk.
Read third time. Urgency clause adopted. Passed. (Ayes 39. Noes 0. Page 4037.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0. Page 3999.) (May 27).
Set for hearing May 27.
April 11 hearing: Placed on APPR. suspense file.
Set for hearing April 11.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 3334.) (March 30). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
Set for hearing March 30.
March 16 hearing postponed by committee.
Set for hearing March 16.
From printer. May be acted upon on or after February 25.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB907 | HTML |
| 01/25/16 - Introduced | |
| 03/28/16 - Amended Senate | |
| 06/23/16 - Amended Assembly | |
| 09/07/16 - Enrolled |
| Document | Format |
|---|---|
| No related documents. |
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