Income taxes: credits: qualified small businesses.
Summary
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2020, and before January 1, 2030, in an amount equal to 5% of the amount paid or incurred by an angel investor, as defined, for investing in a qualified small business, as defined, for the taxable year in which the Franchise Tax Board issues a credit certificate. This bill would take effect immediately as a tax levy.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2018
Committee Review
Floor Vote
Governor
Introduced Feb 16, 2018
Last action May 25, 2018
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
5
Amendments
1
May 25, 2018
Assembly · Reported by committee
In committee: Held under submission.
May 2, 2018
Assembly · Referred to committee
In committee: Set, first hearing. Referred to APPR. suspense file.
Apr 19, 2018
Assembly · Referred to committee
Re-referred to Com. on APPR.
Apr 17, 2018
Assembly · Amendment adopted
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (April 9).
Mar 8, 2018
Assembly · Referred to committee
Referred to Com. on REV. & TAX.
Feb 17, 2018
Assembly · Reported by committee
From printer. May be heard in committee March 19.
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Autumn R. Burke
DDemocratic
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