Bill Text: CA AB2171 | 2009-2010 | Regular Session | Amended
Bill Title: Tax benefits.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2010-05-28 - In committee: Hearing postponed by committee. [AB2171 Detail]
Download: California-2009-AB2171-Amended.html
BILL NUMBER: AB 2171 AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 27, 2010 AMENDED IN ASSEMBLY APRIL 5, 2010 INTRODUCED BY AssemblyMemberCharles CalderonMembers Charles Calderon and Portantino FEBRUARY 18, 2010 An act to add Section 39 to the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGEST AB 2171, as amended, Charles Calderon. Tax benefits. Existing law imposes various taxes and allows specified credits, deductions, exclusions, and exemptions in computing those taxes. This bill would condition the allowance of a tax benefit established in a statute that takes effect on or after January 1, 2011, on the allowable amount of that tax benefit being determined in a separate statute, as provided,and the tax benefit shall be paid pursuant to an annual appropriation by the Legislature for that purposewould require the Legislature to annually establish the maximum amount to be allowed for a tax benefit, as provided . Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 39 is added to the Revenue and Taxation Code, to read: 39. (a) For a tax benefit that takes effect on or after January 1, 2011, the Legislature shall establish in an act, for the taxable year for which any tax benefit allowed under Chapter 10 (commencing with Section 17001) or Chapter 11 (commencing with Section 23001), and for any one or more reporting periods established under any other provision of this code, the total amount that is authorized or allowed for that tax benefit for that taxable year or reporting period, as applicable.39. (a)(b) The allowance of any tax benefit established in a statute that takes effect on or after January 1, 2011, is subject to both of the following: (1) For eachcalendartaxable year or any portion thereof to which it pertains, the tax benefit shall be allowed toeach eligible taxpayera person only in that amount, equal to or less than the amount of that benefit as established in statute, that is annually determined in a separate statute to be consistent with the ability of state government to meet its expenditure obligations under law.A(2) A tax benefit established in a statute that takes effect on or after January 1, 2011, is not allowed for anyyeartaxable year or reporting period, as applicable, until the allowable amount of that tax benefit is determined in a separate statute in accordance with thissubdivisionsection .(2) In the amount determined to be allowable in accordance with subdivision (a), a tax benefit established in a statute that takes effect on or after January 1, 2011, shall be paid to each taxpayer pursuant to an annual appropriation made by the Legislature for that purpose.(b)(c) For purposes of this section, "tax benefit" means a credit, deduction, exclusion, exemption, or other tax advantage to a person that has the effect of reducing the person's tax liability to the state.