Dave Min
- Democratic
- Senator
- District 37
Author
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new 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. This bill, for taxable years beginning on or after January 1, 2021, and before January 1, 2027, would allow a credit against those taxes to a qualified taxpayer in the amount of $10,000. The bill would define a qualified taxpayer as a taxpayer that owns and operates a bar, hotel, or restaurant that meets specified requirements, including that the taxpayer temporarily ceased business operations for the bar, hotel, or restaurant for at least 30 consecutive days during the 2020 or 2021 taxable year in response to an emergency order, as defined. The bill would require a qualified taxpayer claiming the credit to declare, under penalty of perjury, that they complied with all applicable emergency orders, in the form and manner prescribed by the Franchise Tax Board. By expanding the crime of perjury, the bill would impose a state-mandated local program. This bill would include additional information required for any bill authorizing a new income tax credit. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. This bill would take effect immediately as a tax levy.
Returned to Secretary of Senate pursuant to Joint Rule 56.
May 20 hearing: Held in committee and under submission.
Set for hearing May 20.
May 17 hearing: Placed on APPR suspense file.
Set for hearing May 17.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 1044.) (May 6). 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 May 6.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
Art. IV. Sec. 8(a) of the Constitution dispensed with.
Joint Rule 55 suspended. (Ayes 32. Noes 4. Page 272.)
(Ayes 32. Noes 4.)
From printer. May be acted upon on or after March 18.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB408 | HTML |
| 02/12/21 - Introduced | |
| 03/10/21 - Amended Senate | |
| 04/29/21 - Amended Senate |
| Document | Format |
|---|---|
| 05/03/21- Senate Governance and Finance | |
| 05/14/21- Senate Appropriations |
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