Corporation tax credits and deductions: suspension.
Summary
The Corporation Tax Law authorizes various credits and deductions in computing income subject to taxation. This bill would suspend specified credits and deductions for a taxpayer that is a participant, as specified, in the federal Troubled Assets Relief Program, as provided. This bill would result in a change in state taxes for the purpose of increasing state revenues 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 take effect immediately as a tax levy.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2009
Committee Review
Floor Vote
Governor
Introduced Feb 27, 2009
Last action Feb 1, 2010
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
11
Key actions
2
Committee
3
May 18, 2009
Upper · Passed
Hearing postponed by committee.
upper
Apr 16, 2009
Upper · Passed
Hearing postponed by committee.
upper
Apr 2, 2009
Committee
Re-referred to Coms. on REV. & TAX. and B., F. & I.
upper
Feb 27, 2009
Introduced
Introduced. To Com. on RLS. for assignment. To print.
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
GC
Gilbert Cedillo
DDemocratic
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