Roger Niello
- Republican
- Senator
- District 6
Author
The Personal Income Tax Law and the Corporation Tax Law, in conformity or modified conformity with federal income tax laws, allows various deductions in computing the income that is subject to the taxes imposed by those laws, including a deduction, for taxable years beginning on or after January 1, 2014, and before January 1, 2024, for disaster losses in any city, county, or city and county that is proclaimed by the Governor to be in a state of emergency, as specified. Existing law additionally provides that any law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss, other than those variations already imposed in existing law, shall not apply to a net operating loss attributable to these specified disaster losses. This bill would extend the deduction for disaster losses, as described above, to taxable years beginning before January 1, 2029, and would extend for those taxable years the provision prohibiting any law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss, as described above, from applying to these specified disaster losses. Existing law requires any 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. This bill would also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
Approved by the Governor.
Chaptered by Secretary of State. Chapter 285, Statutes of 2023.
Enrolled and presented to the Governor at 4 p.m.
Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2835.) Ordered to engrossing and enrolling.
In Senate. Concurrence in Assembly amendments pending.
Read third time. Passed. (Ayes 80. Noes 0. Page 3150.) Ordered to the Senate.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 16. Noes 0.) (September 1).
July 12 set for first hearing. Placed on APPR. suspense file.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (June 12).
Read third time. Passed. (Ayes 38. Noes 0. Page 1103.) Ordered to the Assembly.
In Assembly. Read first time. Held at Desk.
Read second time. Ordered to consent calendar.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.
Set for hearing May 15.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR with recommendation: To consent calendar. (Ayes 7. Noes 0. Page 993.) (May 3).
Set for hearing May 3.
From printer. May be acted upon on or after March 3.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB264 | HTML |
| 01/31/23 - Introduced | |
| 05/04/23 - Amended Senate | |
| 06/19/23 - Amended Assembly | |
| 09/18/23 - Enrolled | |
| 09/30/23 - Chaptered |
| Document | Format |
|---|---|
| 04/28/23- Senate Governance and Finance | |
| 05/17/23- Sen. Floor Analyses | |
| 06/09/23- Assembly Revenue and Taxation | |
| 07/10/23- Assembly Appropriations | |
| 09/05/23- ASSEMBLY FLOOR ANALYSIS | |
| 09/11/23- Sen. Floor Analyses |
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