Bill Text: CA AB363 | 2009-2010 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Income and corporation taxes: credits: fire safety

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2010-02-02 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB363 Detail]

Download: California-2009-AB363-Introduced.html

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BILL NUMBER: AB 363	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Miller

                        FEBRUARY 23, 2009

   An act to add Sections 17053.87 and 23687 to the Revenue and
Taxation Code, relating to taxation, to take effect immediately, tax
levy.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 363, as introduced, Miller. Income and corporation taxes:
credits: fire safety compliance.
   The Personal Income Tax Law and the Corporation Tax Law authorize
various credits against the taxes imposed by those laws.
   This bill would, under both laws, for taxable years beginning on
or after January 1, 2009, allow a credit for costs incurred in
bringing a qualified home, as defined, into compliance with specified
fire safety requirements.
   This bill would take effect immediately as a tax levy.
   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 17053.87 is added to the Revenue and Taxation
Code, to read:
   17053.87.  (a) For each taxable year beginning on or after January
1, 2009, there shall be allowed as a credit against the "net tax,"
as defined by Section 17039, an amount equal to the qualified costs
for the taxable year in which a qualified home is brought into
compliance with the fire hazard severity zone, local agency very-high
fire hazard severity zone, or wildland-urban interface fire area
building requirements.
   (b) For purposes of this section:
   (1) "Qualified costs" means costs paid or incurred by a taxpayer
for the construction, repair, maintenance, rehabilitation, or
improvement of a qualified home in order to bring the qualified home
into compliance with the fire safety requirements imposed on new
buildings in fire hazard severity zones, local agency very-high fire
hazard severity zones, or wildland-urban interface fire areas.
"Qualified costs" includes, but is not limited to, costs for
materials and labor.
   (2) "Qualified home" means a dwelling unit located in a fire
hazard severity zone, local agency very-high fire hazard severity
zone, or wildland-urban interface fire area that is not a new
building subject to the fire safety requirements for buildings
located in a fire hazard severity zone, local agency very-high fire
hazard severity zone, or wildland-urban interface fire area.
   (c) In the case where the credit allowed by this section exceeds
the "net tax," the excess may be carried over to reduce the "net tax"
in the following year, and succeeding years if necessary, until the
credit is exhausted.
  SEC. 2.  Section 23687 is added to the Revenue and Taxation Code,
to read:
   23687.  (a) For each taxable year beginning on or after January 1,
2009, there shall be allowed as a credit against the "tax," as
defined by Section 23036, to a taxpayer an amount equal to the
qualified costs for the taxable year in which a qualified home is
brought into compliance with the fire hazard severity zone, local
agency very-high fire hazard severity zone, or wildland-urban
interface fire area building requirements.
   (b) For purposes of this section:
   (1) "Qualified costs" means costs paid or incurred by a taxpayer
for the construction, repair, maintenance, rehabilitation, or
improvement of a qualified home in order to bring the qualified home
into compliance with the fire safety requirements imposed on new
buildings in fire hazard severity zones, local agency very-high fire
hazard severity zones, or wildland-urban interface fire areas.
"Qualified costs" includes, but is not limited to, costs for
materials and labor.
   (2) "Qualified home" means a dwelling unit located in a fire
hazard severity zone, local agency very-high fire hazard severity
zone, or wildland-urban interface fire area that is not a new
building subject to the fire safety requirements for buildings
located in a fire hazard severity zone, local agency very-high fire
hazard severity zone, or wildland-urban interface fire area.
   (c) In the case where the credit allowed by this section exceeds
the "tax," the excess may be carried over to reduce the "tax" in the
following year, and succeeding years if necessary, until the credit
is exhausted.
  SEC. 3.  This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.