AB 490 California Assembly · 2017-2018 Regular Session

Taxation: credits: College Access Tax Credit.

Summary

The law governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit, for taxable years beginning on or after January 1, 2017, and before January 1, 2018, equal to 50% of a contribution to the College Access Tax Credit Fund, as provided. Those laws specify that the moneys in the College Access Tax Credit Fund shall be allocated first to the General Fund, then, upon appropriation, to specified agencies for administrative costs related to this credit, and lastly continuously appropriated to the Student Aid Commission for awarding Cal Grants, as provided. This bill would extend the operation of the credit to taxable years beginning before January 1, 2023. By extending the operation of the credit and thus the appropriation in those provisions, the bill would make an appropriation.

Bill status signed all 5 stages cleared

Introduction

Feb 2017

Committee Review

Sep 2017

Assembly Passage

May 2017

Senate Passage

Sep 2017

Signed into Law

Oct 2017

Introduced Feb 13, 2017 Signed Oct 6, 2017

Floor votes · Senate Sep 6, 2017 · Assembly May 31, 2017

How they voted

31–0

Passed · 1 other

Total votes 32

Sep 6, 2017

D Democratic22

22 Yea

100% Yea

R Republican10

9 Yea 1

90% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Oct 6, 2017

Signed into law

Approved by the Governor.

legislature

Sep 11, 2017

Lower · Passed

Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 0. Page 3106.).

lower

Sep 6, 2017

Senate · Passed

Senate Vote: pass (31-0-1)

senate

Sep 6, 2017

Introduced

In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 8 pursuant to Assembly Rule 77.

lower

Sep 1, 2017

Upper · Passed

From committee: Do pass. (Ayes 7. Noes 0.) (September 1).

upper

Jul 10, 2017

Committee

In committee: Referred to APPR. suspense file.

upper

Jun 27, 2017

Upper · Passed

Read second time and amended. Re-referred to Com. on APPR.

upper

Jun 26, 2017

Upper · Passed

From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (June 21).

upper

Jun 14, 2017

Committee

Referred to Com. on GOV. & F.

upper

May 31, 2017

Assembly · Passed

Assembly Vote: pass (67-0-3)

assembly

May 26, 2017

Lower · Passed

From committee: Amend, and do pass as amended. (Ayes 16. Noes 0.) (May 26).

lower

Apr 26, 2017

Committee

In committee: Set, first hearing. Referred to APPR. suspense file.

lower

Apr 17, 2017

Committee

Re-referred to Com. on APPR.

lower

Apr 5, 2017

Lower · Passed

From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 10. Noes 0.) (March 27).

lower

Mar 21, 2017

Committee

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

lower

Mar 20, 2017

Introduced

From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.

lower

Mar 20, 2017

Lower · Passed

In committee: Set, first hearing. Hearing canceled at the request of author.

lower

Feb 27, 2017

Committee

Referred to Com. on REV. & TAX.

lower

Feb 14, 2017

Lower · Passed

From printer. May be heard in committee March 16.

lower

1 primary · 0 co-sponsors