Tom Lackey
- Republican
- Assemblymember
- District 34
Author
The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally define "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, 2024, and before January 1, 2029, would provide an exclusion from gross income for any qualified taxpayer, as defined, for amounts received in settlement for costs and losses associated with the 2020 Bobcat Fire in the County of Los Angeles, as provided. 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 make findings and declarations related to a gift of public funds. This bill would declare that it is to take effect immediately as an urgency statute.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Urgency clause adopted. Passed. Ordered to the Senate. (Ayes 72. Noes 0. Page 2076.).
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 14. Noes 0.) (May 23).
In committee: Set, first hearing. Referred to APPR. suspense file.
Joint Rule 62(a), file notice suspended. (Page 1627.)
In committee: Hearing postponed by committee.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (May 5). Re-referred to Com. on APPR.
Coauthors revised.
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
From printer. May be heard in committee February 7.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB97 | HTML |
| 01/07/25 - Introduced |
| Document | Format |
|---|---|
| 03/14/25- Assembly Revenue and Taxation | |
| 05/02/25- Assembly Revenue and Taxation | |
| 05/19/25- Assembly Appropriations | |
| 05/28/25- ASSEMBLY FLOOR ANALYSIS |
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