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SB 1356 California Senate · 2011-2012 Regular Session

Income taxes: credits: contributions to education funds.

Summary
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill, under both laws, for taxable years beginning on or after January 1, 2013, and before January 1, 2016, would allow a credit equal to a certain percentage of a contribution to the Higher Education Investment Tax Credit Program Special Fund, established by this bill, for the General Fund and specified education purposes, as provided. This bill would specify that the aggregate amount of credit that may be allocated under both laws shall not exceed $100,000,000 for each calendar year, and would require the California Educational Facilities Authority to perform certain duties with regard to allocating and certifying the tax credits allowed under these provisions. This bill would become operative only if SB 1466 of the 2011–12 Regular Session is enacted and takes effect on or before January 1, 2013.
Bill status passed 3 of 5 stages cleared
Introduction
Feb 2012
Committee Review
Aug 2012
Senate Passage
May 2012
Assembly Passage
Governor
Introduced Feb 24, 2012 Last action Aug 16, 2012
Floor votes · Senate May 31, 2012

How they voted

33–0
Passed · 2 other
Total votes 35
May 31, 2012
D Democratic23
23 Yea
100% Yea
R Republican12
10 Yea 2
83% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
27
Key actions
5
Committee
8
Amendments
2
Aug 16, 2012
Lower · Passed
Set, second hearing. Held in committee and under submission.
lower
Aug 8, 2012
Committee
Set, first hearing. Referred to APPR. suspense file.
lower
Jul 3, 2012
Committee
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 1.) (July 2). Re-referred to Com. on APPR.
lower
Jul 2, 2012
Committee
Set, first hearing. Referred to REV. & TAX. suspense file.
lower
Jun 14, 2012
Committee
Referred to Com. on REV. & TAX.
lower
May 31, 2012
Senate · Passed
Senate Vote: pass (33-0-2)
senate
May 25, 2012
Upper · Passed
From committee: Do pass as amended. (Ayes 7. Noes 0. Page 3595.) (May 24).
upper
May 9, 2012
Upper · Passed
Hearing postponed by committee.
upper
May 2, 2012
Committee
Re-referred to Com. on APPR.
upper
Apr 30, 2012
Upper · Passed
From committee: Do pass as amended and re-refer to Com. on ED. (Ayes 8. Noes 1. Page 3305.) (April 25).
upper
Mar 29, 2012
Committee
Referred to Coms. on GOV. & F. and ED.
upper
Feb 24, 2012
Introduced
Introduced. To Com. on RLS. for assignment. To print.
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.