AB 726 California Assembly · 2011-2012 Regular Session

Personal income taxes: exclusions: rollovers.

Summary

The Personal Income Tax Law provides various exclusions from gross income in computing tax liability and, in modified conformity to federal law, imposes a penalty tax upon early distributions from tax-deferred retirement accounts, as provided. This bill would provide an exclusion from gross income for moneys removed from a specified savings plan and deposited directly into a health savings account, as provided, and would waive that penalty tax for early distribution. 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 17, 2011 Last action Feb 1, 2012

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 16, 2011

Lower · Passed

In committee: Set, second hearing. Held under submission.

lower

May 3, 2011

Committee

Re-referred to Com. on REV. & TAX.

lower

Apr 4, 2011

Committee

In committee: Set, first hearing. Referred to REV. & TAX. suspense file.

lower

Mar 7, 2011

Committee

Referred to Com. on REV. & TAX.

lower

Feb 18, 2011

Lower · Passed

From printer. May be heard in committee March 20.

lower

1 primary · 0 co-sponsors