(1) Existing property tax law provides, pursuant to the authority of a specified provision of the California Constitution, for a homeowners' exemption in the amount of $7,000 of the full value of a "dwelling," as defined, and authorizes the Legislature to increase this exemption. This bill, beginning with the lien date for the 2019–20 fiscal year, would increase the homeowners' exemption from $7,000 to $14,000 of the full value of a dwelling. This bill, for the 2020–21 fiscal year and for each fiscal year thereafter, would also require the county assessor to adjust the amount of the homeowners' exemption by the percentage change in the House Price Index for California for the first 3 quarters of the prior calendar year, as specified. (2) The Personal Income Tax Law imposes taxes based upon taxable income of individuals, estates, and trusts, at specified rates. This bill, for taxable years beginning on or after January 1, 2018, would revise the personal income tax rates and the amounts of income those rates are imposed upon, as provided. (3) The California Constitution requires the Legislature, whenever it increases the homeowners' property tax exemption, to provide a comparable increase in benefits to qualified renters. The Personal Income Tax Law authorizes various credits against the taxes imposed by that law, including a credit for qualified renters in the amount of $120 for spouses filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000 or less, and in the amount of $60 for other individuals if adjusted gross income is $25,000 or less. Existing law requires the Franchise Tax Board to annually adjust for inflation these adjusted gross income amounts. This bill, for taxable years beginning on and after January 1, 2019, would increase this credit for a qualified renter to $240 for spouses filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000 or less, as adjusted for inflation, and to an amount equal to $120 for other individuals if adjusted gross income is $25,000 or less, as adjusted for inflation. The bill, for taxable years beginning on or after January 1, 2020, would also require the Franchise Tax Board to annually adjust for inflation, based upon the California Consumer Price Index, the amount of these credits. The bill would also make nonsubstantive changes to the renters' credit. (4) The Corporation Tax Law generally imposes a franchise tax on corporations doing business within the limits of this state, including a minimum franchise tax on specified corporations, as provided. This bill would eliminate the minimum franchise tax and make related technical amendments. (5) Existing law requires the state to reimburse local agencies annually for certain property tax revenues lost as a result of any exemption or classification of property for purposes of ad valorem property taxation. This bill would provide that, notwithstanding those provisions, no appropriation is made and the state shall not reimburse local agencies for property tax revenues lost by them pursuant to the bill. (6) This bill would take effect immediately as a tax levy.
Sponsored bills
This measure would designate Monday, May 7, 2018, as California Peace Officers' Memorial Day, urge all Californians to use that day to honor California peace officers, and recognize specified California peace officers who were killed in defense of their communities.
This measure would proclaim the month of April 2018 as Black April Memorial Month.
This measure would honor the men and women who have served or are serving in our nation's military, and would declare that the men and women who choose to join the United States Armed Forces should be encouraged and commended.
The California Constitution conditions the imposition of a general tax by a local government upon the approval of a majority of its voters voting on the tax. The California Constitution requires the election for the vote on a general tax to be consolidated with a regularly scheduled election for members of the governing body of the local government, except in cases where the members of the governing body of the local government, by a unanimous vote, declare an emergency. The California Constitution conditions the imposition of a special tax by a local government upon the approval of 23 of the voters voting on the tax. The California Constitution defines "local government" for these purposes to mean any county, city, city and county, including a charter city or county, any special district, or any other local or regional governmental entity. This measure would specify that the electorate exercising its initiative power is within the definition of "local government," and that these conditions and requirements apply to the exercise of that power. The California Constitution prohibits an assessment or property-related fee or charge from being assessed by an agency on any parcel of property unless it meets certain requirements. Existing provisions of the California Constitution require an agency to follow specified procedures in imposing or increasing an assessment or property-related fee or charge, and condition the imposition or increase of an assessment or property-related fee or charge, with certain exceptions, upon the absence of a majority protest on the part of owners of affected parcels and, in the case of a property-related fee or charge, upon approval by either a majority vote of the owners of the subject parcels or a 23 vote of the voters residing in the affected area. The California Constitution defines "agency" for these purposes to mean any county, city, city and county, including a charter city or county, any special district, or any other local or regional governmental entity. This measure would specify that the electorate exercising its initiative power is within the definition of "agency," and that the existing requirements and procedures apply to the exercise of that power.
Existing law provides various sources of funding for transportation and other infrastructure purposes. This bill, until July 1, 2025, would require the Department of Finance, in consultation with the Franchise Tax Board, to estimate, on an annual basis by November 1 of each year, the amount of revenue to be received from state taxes in the next fiscal year as a consequence of enactment of a federal corporate repatriation statute pursuant to which foreign earnings of United States-based corporations that are currently invested abroad are moved to the United States. The bill, until July 1, 2025, after reservation of appropriate amounts required to be allocated by the California Constitution for Proposition 98 education funding requirements and the Budget Stabilization Account, would require the remaining repatriation revenues to be transferred to the Repatriation Infrastructure Fund in the State Treasury, which the bill would create. The bill would continuously appropriate the revenues in the Repatriation Infrastructure Fund to an unspecified entity for expenditure infrastructure projects.
This measure would declare the month of April 2018 as the Month of the Military Child, and would urge all Californians, local and state leaders, private organizations, and businesses to observe the month by showing appreciation to the children and youth of military and veteran families, including children of the fallen, for standing by their parents and loved ones who are serving or have served as members of the Armed Forces of the United States.
The Planning and Zoning Law requires, when a developer of housing proposes a housing development within the jurisdiction of a local government, that the city, county, or city and county provide the developer with a density bonus and other incentives or concessions for the production of lower income housing units or the donation of land within the development if the developer, among other things, agrees to construct a specified percentage of units for very low, low-, or moderate-income households or qualifying residents. Existing law prohibits a city, county, or city and county from requiring a vehicular parking ratio for a housing development that meets these criteria in excess of specified ratios. This prohibition applies only at the request of the developer and specifies that the developer may request additional parking incentives or concessions. Notwithstanding these vehicular parking ratio requirements, existing law additionally prohibits, at the request of the developer, a city, county, or city and county from imposing a vehicular parking ratio in excess of specified ratios on a development that meets specified criteria, including that the development meets specified affordability criteria and is located within ½ mile of a major transit stop, as defined. This bill would delete these additional vehicular parking ratio provisions. Existing law specifies that the provisions relating to maximum vehicular parking ratios do not preclude a city, county, or city and county from reducing or eliminating a parking requirement for development projects of any type in any location. This bill would delete this specification. Existing law authorizes a city, county, or city and county to impose a higher vehicular parking ratio based on substantial evidence found in an areawide or jurisdictionwide parking study, as specified. Existing law requires that any higher vehicular parking ratio under this provision not exceed specified ratios. This bill would delete this limitation.