Greg Wallis
- Republican
- Assemblymember
- District 47
Author
(1) The Personal Income Tax Law allows, by way of conformity with deductions allowed under federal income tax law, various deductions in computing the income that is subject to the taxes imposed by the Personal Income Tax Law, including a deduction against gross income for interest paid on qualified education loans not to exceed $2,500, reduced, as specified, based on modified adjusted gross income, as defined. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would increase the limitation on the deduction described above to $5,000. (2) Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that 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. (3) This bill would take effect immediately as a tax levy.
In committee: Held under submission.
Joint Rule 62(a), file notice suspended. (Page 5215.)
In committee: Set, first hearing. Referred to APPR. suspense file.
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 29).
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
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 14.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2312 | HTML |
| 02/12/24 - Introduced | |
| 03/18/24 - Amended Assembly | |
| 05/07/24 - Amended Assembly |
| Document | Format |
|---|---|
| 04/05/24- Assembly Revenue and Taxation | |
| 04/26/24- Assembly Revenue and Taxation | |
| 05/14/24- Assembly Appropriations |
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