AB 1576 California Assembly · 2023-2024 Regular Session

Personal Income Tax Law: Corporation Tax Law: disregarded entities: credit limitation.

Summary

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, and specify certain limitations and requirements with respect to the application of credits, including limitations on credits allowed with respect to disregarded entities in excess of the tax imposed on income related to those disregarded entities. This bill would remove the above-described limitation on credits allowed with respect to disregarded entities for credits generated in taxable years beginning on or after January 1, 2023, if the credit can be assigned, as provided. This bill would take effect immediately as a tax levy.

Bill status failed 1 of 4 stages cleared

Introduction

Feb 2023

Committee Review

Floor Vote

Governor

Introduced Feb 17, 2023 Last action Feb 1, 2024

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Feb 1, 2024

Lower · Passed

From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

lower

May 18, 2023

Lower · Passed

In committee: Held under submission.

lower

May 17, 2023

Committee

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

lower

May 2, 2023

Lower · Passed

From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (May 1). Re-referred to Com. on APPR.

lower

Apr 27, 2023

Committee

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

lower

Apr 26, 2023

Introduced

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

lower

Apr 24, 2023

Committee

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

lower

Apr 18, 2023

Lower · Passed

In committee: Hearing postponed by committee.

lower

Mar 9, 2023

Committee

Referred to Com. on REV. & TAX.

lower

Feb 18, 2023

Lower · Passed

From printer. May be heard in committee March 20.

lower

1 primary · 0 co-sponsors