Randy Voepel
- Republican
Author
The Personal Income Tax Law excludes from the gross income of an employee amounts paid or incurred by an employer for educational assistance to the employee, as specified, up to $5,250 during a calendar year. This bill would include in the definition of "educational assistance" a payment made by an employer on or after January 1, 2023, and before January 1, 2026, paid or incurred by the employer, whether paid to the employee or to a lender, of principal or interest on a qualified education loan, as defined, relating to interest on education loans, incurred by the employee for education of the employee. The bill would also make various technical changes to these provisions and delete obsolete language relating to graduate level educational assistance. Existing law requires that any bill introduced on or after January 1, 2020, that would authorize certain tax expenditures, as defined, or tax exemptions contain, among other things, specific goals, purposes, and objectives that the tax expenditure or exemption will achieve, detailed performance indicators, and data collection requirements. This bill would state the intent of the Legislature to apply these requirements to its provisions and make findings regarding the purpose of the exclusion from gross income allowed by the bill, as described above. This bill would take effect immediately as a tax levy.
In committee: Held under submission.
Joint Rule 62(a), file notice suspended. (Page 4736.)
In committee: Set, first hearing. Referred to suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (May 5). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
In committee: Hearing for testimony only.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
From printer. May be heard in committee March 3.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1729 | HTML |
| 01/31/22 - Introduced | |
| 03/21/22 - Amended Assembly | |
| 04/18/22 - Amended Assembly |
| Document | Format |
|---|---|
| 03/31/22- Assembly Revenue and Taxation | |
| 05/04/22- Assembly Revenue and Taxation | |
| 05/16/22- Assembly Appropriations |
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