Tom Lackey
- Republican
- Assemblymember
- District 34
Author
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 provides various exclusions from gross income. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would provide an exclusion from gross income for any qualified taxpayer, as defined, for amounts received in settlement for costs and losses associated with the 2020 Bobcat Fire in the County of Los Angeles, as provided. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. This bill would declare that it is to take effect immediately as an urgency statute.
Vetoed by Governor.
Enrolled and presented to the Governor at 4:30 p.m.
In Assembly. Ordered to Engrossing and Enrolling.
Read third time. Urgency clause adopted. Passed. Ordered to the Assembly. (Ayes 39. Noes 0.).
Ordered to special consent calendar.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (August 15).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (June 26). Re-referred to Com. on APPR.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Urgency clause adopted. Passed. Ordered to the Senate. (Ayes 70. Noes 0. Page 5408.).
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 15. Noes 0.) (May 16).
Joint Rule 62(a), file notice suspended. (Page 5215.)
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 29). Re-referred to Com. on APPR.
Coauthors revised.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
In committee: Set, second hearing. Referred to REV. & TAX. suspense file.
In committee: Set, first hearing. Hearing canceled at the request of author.
From printer. May be heard in committee March 1.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1973 | HTML |
| 01/30/24 - Introduced | |
| 04/18/24 - Amended Assembly | |
| 08/31/24 - Enrolled |
| Document | Format |
|---|---|
| 04/12/24- Assembly Revenue and Taxation | |
| 04/26/24- Assembly Revenue and Taxation | |
| 05/14/24- Assembly Appropriations | |
| 05/20/24- ASSEMBLY FLOOR ANALYSIS | |
| 06/21/24- Senate Revenue and Taxation | |
| 08/02/24- Senate Appropriations | |
| 08/18/24- Sen. Floor Analyses | |
| 10/10/24- ASSEMBLY FLOOR ANALYSIS |
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