The Personal Income Tax Law defines gross income as all income from whatever source derived, unless specifically excluded. Existing law, by reference to a specified federal statute, excludes from income any amount received by an individual as a qualified disaster relief payment, and defines qualified disaster for purposes of this provision. This bill would require the natural gas transmission line explosion on September 9, 2010, in San Bruno, California, to be treated as a qualified disaster for purposes of the above-described provision. The Personal Income Tax Law provides for a gain or loss upon the disposition of property. Existing law, by reference to a specified federal statute, excludes from the computation of gross income any gain from the compulsory or involuntary conversion of property damaged by a federally declared disaster, as provided. This bill would require the natural gas transmission line explosion on September 9, 2010, in San Bruno, California, to be treated as a federally declared disaster for purposes of the above-described provision. The Personal Income Tax Law and the Corporation Tax Law provide for the carryover to specified taxable years of specified losses sustained in the County of San Mateo as a result of the explosion and fire that occurred in September 2010. This bill would change an obsolete statutory reference in these laws. This bill would take effect immediately as a tax levy.
Sponsored bills
This measure would declare March as Campus Safety Month, and would encourage citizens to visit the Internet Web site of the California Postsecondary Education Commission to view public safety information about public and private colleges and universities.
This measure would declare the week of March 14, 2011, through March 18, 2011, as Multiple Sclerosis Awareness Week.
This resolution would designate March 13 through March 19, 2011, as Sunshine Week.
This measure would proclaim the week of March 7 to March 14 of each year as California Arbor Week, and would urge California residents to observe the week with appropriate tree planting activities and programs.
This resolution would recognize the month of January as National Slavery and Human Trafficking Prevention Month, and it would recognize February 1, 2011, as California's Free From Slavery Day.
This measure would declare March 11, 2011, as Fresno Food Expo Day, and honor the Central San Joaquin Valley for its contribution to California, the nation, and globally for its abundant production of agricultural goods and food production.
This measure would recognize the Lunar New Year 4709 Celebration.
This measure would recognize the month of February 2011 as American Heart Month in California, would recognize February 4, 2011, as Wear Red Day in California, and would urge public support for Go Red for Women events.