Sign Up
AB 558 California Assembly · 2011-2012 Regular Session

Taxation: retirement plan distributions: penalties.

Summary
The Personal Income Tax Law, in modified conformity to federal income tax laws, imposes a tax upon early distributions from qualified pension plans, as provided. This bill would, for taxable years beginning on or after January 1, 2011, and before January 1, 2013, waive that tax for the first $25,000, distributed to individuals who have exhausted their unemployment insurance benefits. This bill would take effect immediately as a tax levy.
Bill status failed 1 of 4 stages cleared
Introduction
Feb 2011
Committee Review
Floor Vote
Governor
Introduced Feb 16, 2011 Last action Feb 1, 2012
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
14
Key actions
5
Committee
8
Amendments
1
May 27, 2011
Committee
In committee: Set, first hearing. Referred to APPR. suspense file.
lower
May 19, 2011
Committee
Re-referred to Com. on APPR.
lower
May 17, 2011
Lower · Passed
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (May 16).
lower
May 9, 2011
Committee
In committee: Set, second hearing. Referred to REV. & TAX. suspense file.
lower
May 2, 2011
Lower · Passed
In committee: Hearing postponed by committee.
lower
Apr 26, 2011
Lower · Passed
In committee: Hearing postponed by committee.
lower
Apr 4, 2011
Lower · Passed
In committee: Set, first hearing. Hearing canceled at the request of author.
lower
Mar 3, 2011
Committee
Referred to Com. on REV. & TAX.
lower
Feb 17, 2011
Lower · Passed
From printer. May be heard in committee March 19.
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.