Committee on Budget
Author
Existing law establishes, in the Government Operations Agency, the Franchise Tax Board consisting of the Controller, the Director of Finance, and the Chairperson of the State Board of Equalization. Existing law prescribes various powers and duties to the Franchise Tax Board, including, among other things, the administration of state personal income taxes and corporation franchise and income taxes. The Personal Income Tax Law, in conformity with federal income tax laws, defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from income, including, for taxable years beginning on or after January 1, 2021, and before January 1, 2030, an exclusion from income for any qualified taxpayer, as defined, for amounts received in settlement in connection with a wildfire in the state, as provided. This bill would amend the definitions provided in that exclusion from tax and would limit the exclusion to qualified amounts made in connection with a qualified wildfire disaster, as defined. This bill would also appropriate $10,000 from the General Fund to the Franchise Tax Board to administer qualified wildfire disaster settlements, as specified. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would declare that it is to take effect immediately as a bill providing for appropriations related to the Budget Bill.
Ordered to inactive file at the request of Senator Grayson.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 13. Noes 0.) (September 10).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F. R.
Senate Rule 29.3(b) suspended. (Ayes 28. Noes 8. Page 2568.)
Read third time. Passed. Ordered to the Senate. (Ayes 53. Noes 17. Page 742.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read second time. Ordered to third reading.
(Ayes 53. Noes 17. Page 643.)
Ordered to second reading.
Withdrawn from committee.
From printer. May be heard in committee February 8.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB159 | HTML |
| 01/08/25 - Introduced | |
| 09/08/25 - Amended Senate |
| Document | Format |
|---|---|
| 03/19/25- ASSEMBLY FLOOR ANALYSIS | |
| 09/09/25- Senate Committee on Budget and Fiscal Review | |
| 09/12/25- Sen. Floor Analyses |
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