Bill Text: CA AB754 | 2015-2016 | Regular Session | Introduced

California Assembly Bill 754 (Prior Session Legislation)

Introduced

Bill Title: Taxation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2016-02-01 - Died at Desk. [AB754 Detail]

Download: California-2015-AB754-Introduced.html

BILL NUMBER: AB 754	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Ridley-Thomas

                        FEBRUARY 25, 2015

   An act relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 754, as introduced, Ridley-Thomas. Taxation.
   The Corporation Tax Law imposes a franchise tax measured by, or
according to, net income of a corporation doing business within the
limits of this state, including a minimum franchise tax on specified
corporations, as provided. The provisions of the Personal Income Tax
Law generally apply to the income of an individual or partnership,
imposing a tax on individuals at graduated rates.
   This bill would declare the intent of the Legislature to
subsequently amend this bill to include provisions that would provide
tax relief to small businesses conducting business in Los Angeles
County during the period of disruption caused by specified
transit-related construction activities, conducted by the Los Angeles
County Metropolitan Transportation Authority, and resulting in
decreased business revenue.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to subsequently
amend this measure to include provisions that would provide tax
relief to small businesses, as defined by their number of employees,
financial history, and duration of operation, conducting business in
Los Angeles County during the period of disruption caused by
specified transit-related construction activities, conducted by the
Los Angeles County Metropolitan Transportation Authority, and
resulting in decreased business revenue.