Existing sales and use tax laws impose taxes on retailers measured by the gross receipts from the sale of tangible personal property sold at retail in this state, or on the storage, use, or other consumption in this state of tangible personal property purchased from a retailer for storage, use, or other consumption in this state. The Sales and Use Tax Law provides various exemptions from those taxes, including a partial exemption from those taxes, on and after July 1, 2014, and before July 1, 2030, for the gross receipts from the sale of, and the storage, use, or other consumption of, qualified tangible personal property purchased by a qualified person for purchases not exceeding $200,000,000, for use primarily in manufacturing, processing, refining, fabricating, or recycling of tangible personal property, as specified; qualified tangible personal property purchased for use by a qualified person to be used primarily in research and development, as provided; qualified tangible personal property purchased for use by a qualified person to be used primarily to maintain, repair, measure, or test any qualified tangible personal property, as provided; and qualified tangible personal property purchased by a contractor purchasing that property for use in the performance of a construction contract for the qualified person, that will use that property as an integral part of specified processes. Existing law, on and after January 1, 2018, and before July 1, 2030, additionally exempts from those taxes the sale of, and the storage, use, or other consumption of, qualified tangible personal property purchased for use by a qualified person to be used primarily in the generation or production, as defined, or storage and distribution, as defined, of electric power. This bill, on and after January 1, 2019, would eliminate those partial exemptions for the gross receipts from the sale of, and the storage, use, or other consumption of, qualified tangible personal property purchased for use by, and for use in the performance of a construction contract for, any qualified person who is a person that contracts or subcontracts to build, maintain, or provide materials for a specified border wall, as defined. Existing law establishes the California Alternative Energy and Advanced Transportation Financing Authority to provide financial assistance for projects that promote the use of alternative energies. Existing law, until January 1, 2021, authorizes the authority to approve a project for financial assistance in the form of a sales and use tax exclusion for a participating party, as defined. The Sales and Use Tax Law, for the purposes of the taxes imposed pursuant to that law, excludes the lease or transfer of title of tangible personal property constituting a project to a participating party. This bill, on and after January 1, 2019, would prohibit the authority from approving a project for that financial assistance for any applicant who is a person organized for profit that contracts or subcontracts to build, maintain, or provide materials for a specified border wall, as defined. The bill, on and after January 1, 2019, would eliminate that sales and use tax exclusion for any participating party who is a person organized for profit that contracts or subcontracts to build, maintain, or provide materials for the border wall. The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including, (1) in modified conformity to a credit allowed under federal income tax law, a credit for increasing research expenses; (2) for taxable years beginning on or after January 1, 2014, and before January 1, 2021, a credit for hiring qualified full-time employees within specified economic development areas in an amount equal to 35% of the qualified wages paid to those employees multiplied by the applicable percentage for that taxable year; and (3) for each taxable year beginning on or after January 1, 2014, and before January 1, 2025, in an amount as provided in a written agreement between the Governor's Office of Business and Economic Development and the taxpayer, agreed upon by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. This bill, for taxable years beginning on or after January 1, 2019, would disallow those credits to a taxpayer that contracts or subcontracts to build, maintain, or provide materials for a specified border wall, as defined. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy.
Sponsored bills
Existing law authorizes a person who suffers a loss or harm to person or property from the unlawful act or omission of another to recover from the person at fault money damages. This bill would allow the injured party, in any action to recover damages for injury to person or property caused by lead-based paint, to establish a prima facie case that a particular lead paint pigment manufacturer is the cause of the injury if the injured party proves by a preponderance of the evidence that the lead paint pigment manufacturer sold, distributed, or promoted in California either the type of lead paint pigment that caused the injury or a product containing the type of lead paint pigment that caused the injury, and would shift the burden of proof to the lead paint pigment manufacturer to prove by a preponderance of the evidence that it did not sell, distribute, or promote the lead paint pigment that caused the injury or a product containing the type of lead paint pigment that caused the injury during the relevant time period or in the geographical market in which the injury occurred. The bill would make each lead paint pigment manufacturer jointly and severally liable if more than one lead paint pigment manufacturer is found liable for an injury to person or property caused by lead-based paint. The bill would expressly make these provisions retroactive. The bill would also state various findings and declarations of the Legislature related to these provisions. The bill would provide that its provisions are severable.
This bill would make appropriations for the support of state government for the 2018–19 fiscal year. This bill would declare that it is to take effect immediately as a Budget Bill.
This measure would acknowledge the month of April 2018 as Child Abuse Prevention Month and encourage the people of the State of California to work together to support youth-serving child abuse prevention activities in their communities and schools.
This measure would designate the week of May 6, 2018, through May 12, 2018, as Compost Awareness Week.
This measure would dedicate the month of May 2018 as Maternal Mental Health Awareness Month.
This measure would proclaim the month of May 2018 as Lyme Disease Awareness Month.
This measure would designate May 29, 2018, as 529 College Savings Day, to raise awareness about the importance of saving for college with the help of 529 college savings plans.
This measure would recognize May 2018 as Blue Star Mothers of America Month in California, as specified.
(1) The California Financing Law (CFL) provides for the licensure and regulation of finance lenders and brokers by the Commissioner of Business Oversight. The CFL prohibits anyone from engaging in the business of a finance lender or broker without obtaining a license. A willful violation of the CFL is a crime, except as specified. Under existing law, a licensee who lends any sum of money is authorized to contract for and receive charges at a maximum rate that does not exceed specified sums on the unpaid principal balance per month, ranging from 2 12% to 1%, based on the consumer loan amount, as specified. This provision, however, does not apply to any loan of a bona fide principal amount of $2,500 or more, as determined in accordance with a provision governing regulatory ceilings and evasion of the CFL. The CFL also authorizes a licensee, as an alternative to the above-described rate charges for consumer loan amounts, to instead contract for and receive charges at the greater of a rate not exceeding 1.6% per month on the unpaid principal balance or a rate not exceeding 56 of 1% per month, plus a specified percentage per month, as established by the Federal Reserve Bank of San Francisco, on advances to member banks under federal law, or if there is no single determinable rate, the closest counterpart of this rate. Under existing law, these provisions do not apply to a loan of a bona fide principal amount of $2,500 or more, as specified. The CFL authorizes a licensee to contract for and receive an administrative fee of a specified amount that varies with the bona fide principal amount of the loan, including authorizing a licensee to receive an administrative fee of $75 with respect to a loan of a bona fide principal amount in excess of $2,500. This bill would authorize a licensee, with respect to a loan of a bona fide principal amount of $2,500 or more but less than $5,000, to contract for or receive no more than moneys paid for specified insurance and for charges, inclusive of an administrative fee that does not exceed $75, which in the aggregate amount exceed an annual simple interest rate of 36%. The bill would also authorize a licensee, as an alternative to these provisions, to contract for or receive no more than moneys paid for an administrative fee that does not exceed $90 and for charges, which in the aggregate amount do not exceed an annual simple interest rate of 36% or the sum of 30.75% plus the United States Prime Rate. (2) Existing law prohibits licensees subject to the CFL from entering into a contract for a consumer loan that provides for a scheduled repayment of principal over more than the maximum terms set forth in relation to the respective size of the loan. Among other things, this provision prohibits a loan of $3,000 but less than $5,000 from exceeding a maximum term of 60 months and 15 days. This bill would increase the maximum principal loan amount under the above schedule to $10,000. The bill would also prohibit a licensee from entering into a contract for a consumer loan that is in excess of $2,500 but less than $10,000 that provides for a scheduled repayment of principal that is less than 12 months. By expanding the application of the CFL to cover more loans, the bill would expand the scope of an existing crime, thereby imposing a state-mandated local program. (3) The CFL requires a statement showing in clear and distinct terms specified information relating to the loan to be delivered to the buyer when it is made. This bill would also require each licensee, prior to disbursement of loan proceeds in connection with certain loans exceeding $2,500 but less than $10,000, to offer a free credit education program or seminar to each borrower in accordance with certain conditions. (4) The CFL requires a licensed finance lender to permit payment to be made in advance in any amount on any contract of any loan at any time and authorizes the licensee to apply that payment first to any agreed prepayment penalty. This bill would prohibit a licensee from charging, imposing, or receiving any penalty for the prepayment of a loan, except as specified, and would make conforming changes to that effect. The bill would also make certain moneys paid to, and commissions and benefits received by, a licensee in connection with a loan that a buyer separately authorized as optional subject to adjustment and rebate if a loan contract is paid in full, as prescribed. (5) The CFL defines charges for its purposes to include aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by a licensee or any other person in connection with the investigating, arranging, negotiating, procuring, guaranteeing, making, servicing, collecting, and enforcing of a loan or forbearance of money, credit, goods, or things in action, or any other service rendered. Existing law also specifies that charges do not include, among other things, fees paid to a licensee for the privilege of participating in an open-end-credit program, which fees are to cover administrative costs and are imposed upon executing the open-end loan agreement and on annual renewal dates or anniversary dates. This bill would delete the above exception for fees paid to a licensee for the privilege of participating in an open-end credit program, as specified. (6) The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.