Diane Papan
- Democratic
- Assemblymember
- District 21
Author
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2024, and before January 1, 2029, in an amount equal to 25% of the value of qualified land or property donated to a qualified nonprofit organization by an employer during the taxable year for the construction of affordable housing, as defined. The bill would limit the amount of credits allocated to an aggregate of $10,000,000, and the credits would be allocated on a first-come-first-served basis. 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 take effect immediately as a tax levy.
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
In committee: Held under submission.
Joint Rule 62(a), file notice suspended. (Page 1580.)
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 11. Noes 0.) (May 1).
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.
Read second time and amended.
From committee: Amend, and do pass as amended and re-refer to Com. on REV. & TAX. (Ayes 8. Noes 0.) (April 12).
Re-referred to Coms. on H. & C.D. and REV. & TAX. pursuant to Assembly Rule 96.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
Referred to Coms. on REV. & TAX. and H. & C.D.
From printer. May be heard in committee March 17.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB926 | HTML |
| 02/14/23 - Introduced | |
| 03/16/23 - Amended Assembly | |
| 04/13/23 - Amended Assembly | |
| 04/24/23 - Amended Assembly | |
| 05/03/23 - Amended Assembly |
| Document | Format |
|---|---|
| 04/10/23- Assembly Housing and Community Development | |
| 04/28/23- Assembly Revenue and Taxation | |
| 05/15/23- Assembly Appropriations |
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