Chris Ward
- Democratic
- Assemblymember
- District 78
Author
Existing law, known as the Golden State Scholarshare Trust Act, establishes the Golden State Scholarshare College Savings Trust, under the administration of the Scholarshare Investment Board, to provide financial aid for postsecondary education costs of participating students. Existing law defines "qualified higher education expenses" for purposes of the Golden State Scholarshare Trust Act to mean the expenses of attendance at an institution of higher education, as specified. This bill would add expenses associated with participation in a registered apprenticeship program and payment on the principal or interest of a qualified education loan to the definition of "qualified higher education expenses." The Personal Income Tax Law, in conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. That law excludes from gross income distributions from a qualified tuition program, as defined, for qualified higher education expenses. Existing federal law, the Further Consolidated Appropriations Act, 2020, expanded the definition of "qualified higher education expenses" to include expenses associated with registered apprenticeship programs and payment on the principal or interest of a qualified education loan. The act also made coordinating changes related to the deduction of interest paid on a qualified education loan. This bill would, for taxable years beginning on or after January 1, 2021, conform state tax law to those changes relating to qualified higher education expenses made by the act.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 557, Statutes of 2021.
Enrolled and presented to the Governor at 3 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 73. Noes 0. Page 2842.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 5 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 2389.).
Ordered to special consent calendar.
From committee: Do pass. (Ayes 7. Noes 0.) (August 26).
Read second time. Ordered to third reading.
From committee: Do pass and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 5. Noes 0.) (July 1). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on GOV. & F.
From committee: Do pass and re-refer to Com. on GOV. & F. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 23). Re-referred to Com. on GOV. & F.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1599.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 16. Noes 0.) (May 20).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee chair, with author's amendments: Amend, and re-refer to Com. on APPR. Read second time and amended.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (March 24). Re-referred to Com. on APPR.
From printer. May be heard in committee February 28.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB340 | HTML |
| 01/28/21 - Introduced | |
| 03/29/21 - Amended Assembly | |
| 06/24/21 - Amended Senate | |
| 09/09/21 - Enrolled | |
| 10/06/21 - Chaptered |
| Document | Format |
|---|---|
| 03/23/21- Assembly Higher Education | |
| 04/12/21- Assembly Appropriations | |
| 05/24/21- ASSEMBLY FLOOR ANALYSIS | |
| 06/21/21- Senate Education | |
| 06/28/21- Senate Governance and Finance | |
| 07/13/21- Senate Appropriations | |
| 08/28/21- Sen. Floor Analyses | |
| 09/03/21- ASSEMBLY FLOOR ANALYSIS |
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