Dahle
Author
The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally defines 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, 2023, and before January 1, 2033, would provide an exclusion from gross income for amounts received from a settlement entity, as defined, by a qualified taxpayer, as defined, to replace property damaged or destroyed by a natural disaster that was declared a state of emergency by both the Governor and the President of the United States. 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.
May 16 hearing: Held in committee and under submission.
Set for hearing May 16.
April 8 hearing: Placed on APPR suspense file.
Set for hearing April 8.
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 6. Noes 0. Page 3290.) (March 13).
Set for hearing March 13.
From printer. May be acted upon on or after February 12.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB927 | HTML |
| 01/12/24 - Introduced | |
| 03/14/24 - Amended Senate |
| Document | Format |
|---|---|
| 03/11/24- Senate Revenue and Taxation | |
| 04/05/24- Senate Appropriations |
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