Greg Wallis
- Republican
- Assemblymember
- District 47
Author
The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2025, and before January 1, 2030, to a qualified taxpayer, as defined, in an amount equal to 40% of the taxpayer's qualified expenses, as defined, not to exceed $400 per taxable year, or $2,000 cumulatively. 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 also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
No votes to display
In committee: Set, first hearing. Held under submission.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
From printer. May be heard in committee March 6.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB389 | HTML |
| 02/03/25 - Introduced | |
| 04/07/25 - Amended Assembly |
| Document | Format |
|---|---|
| 03/14/25- Assembly Revenue and Taxation | |
| 05/02/25- Assembly Revenue and Taxation |
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