Andreas Borgeas
- Republican
Author
Existing law establishes the Office of Small Business Advocate within the Governor's Office of Business and Economic Development for the purpose of advocating for the causes of small business and to provide small businesses with the information they need to survive in the marketplace. This bill, the Keep California Working Act, would establish the Keep California Working Grant Program. The act would require the Small Business Advocate to administer the program and award grants, as specified, to small businesses and nonprofit entities that meet specified criteria, including that the entity has experienced economic hardship resulting from the COVID-19 pandemic. The act would specify that grant money awarded pursuant to the program may be used only for specified purposes, including payroll costs, health care benefits, paid sick, medical, or family leave, and insurance premiums. The act would appropriate $2.6 billion dollars to the Office of Small Business Advocate for those purposes. The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally define "gross income" as income from whatever source derived, except as specifically excluded, and provide various exclusions from gross income. This bill would exclude from gross income, for state income tax purposes, the amount of a grant awarded pursuant to the Keep California Working Grant Program. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. The bill also would include additional information required for a bill authorizing a new tax expenditure. This bill would declare that it is to take effect immediately as an urgency statute.
No votes to display
Returned to Secretary of Senate pursuant to Joint Rule 56.
Set for hearing April 19.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B., P. & E.D.
April 19 set for first hearing canceled at the request of author.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B., P. & E.D.
Read first time.
From printer. May be acted upon on or after January 10.
Introduced. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB74 | HTML |
| 12/10/20 - Introduced | |
| 02/02/21 - Amended Senate | |
| 03/11/21 - Amended Senate |
| Document | Format |
|---|---|
| No related documents. |
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