Monique Limón
- Democratic
- Senator
- District 19
Author
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including, in modified conformity with federal income tax law, authorizes a credit for household and dependent care expenses necessary for gainful employment, as provided. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would allow a credit in the amount of 30% of the costs of startup expenses for childcare programs or constructing a childcare facility, to be used primarily by the children of the taxpayer's employees or by the children of employees of tenants leasing commercial or office space in a building owned by the taxpayer, or of the costs of providing childcare information and referral services to the taxpayer's employees, as provided, not to exceed $30,000 for the taxable year. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would also allow a credit in the amount of 30% of the cost paid or incurred by the taxpayer for contributions to a qualified care plan made on behalf of any qualified dependent of the taxpayer's qualified employees, not to exceed $360 for each qualified dependent. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credits, performance indicators for determining whether the credits meets those goals, purposes, and objectives, and data collection requirements. This bill would take effect immediately as a tax levy.
Returned to Secretary of Senate pursuant to Joint Rule 56.
January 18 hearing: Held in committee and under submission.
Set for hearing January 18.
January 16 hearing: Placed on APPR suspense file.
Set for hearing January 16.
May 15 set for first hearing canceled at the request of author.
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. (Ayes 7. Noes 0. Page 993.) (May 3).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
Set for hearing May 3.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
From printer. May be acted upon on or after March 17.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB533 | HTML |
| 02/14/23 - Introduced | |
| 03/20/23 - Amended Senate | |
| 04/25/23 - Amended Senate | |
| 05/04/23 - Amended Senate |
| Document | Format |
|---|---|
| 04/28/23- Senate Governance and Finance | |
| 01/12/24- Senate Appropriations |
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