Bill Text: CA SB209 | 2013-2014 | Regular Session | Introduced

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

---

Bill Title: Income taxes: exclusion: deferral: qualified small business stock.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2013-10-04 - Chaptered by Secretary of State. Chapter 543, Statutes of 2013. [SB209 Detail]

Download: California-2013-SB209-Introduced.html

---

BILL NUMBER: SB 209	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Lieu

                        FEBRUARY 11, 2013

   An act to amend Section 10752 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 209, as introduced, Lieu. Vehicle License Fee Law.
   The Vehicle License Fee Law, in lieu of an ad valorem property tax
upon vehicles, imposes an annual license fee on specified vehicles
subject to registration in this state in the amount of 0.65% of the
market value of that vehicle, as provided.
   This bill would make technical, nonsubstantive changes to that
provision.
   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.  Section 10752 of the Revenue and Taxation Code is
amended to read:
   10752.  (a) The annual amount of the license fee for any vehicle,
other than a trailer or semitrailer, as described in subdivision (a)
of Section 5014.1 of the Vehicle Code or a commercial motor vehicle
described in Section 9400.1 of the Vehicle Code, or a trailer coach
that is required to be moved under permit as authorized in Section
35790 of the Vehicle Code, shall be a sum equal to the following
percentage of the market value of the vehicle as determined by the
department:
   (1) Sixty-five hundredths of 1 percent on and after January 1,
2005, and before May 19, 2009.
   (2) One percent for initial and renewal registrations due on and
after May 19, 2009, but before July 1, 2011.
   (3) Sixty-five hundredths of 1 percent for initial and renewal
registrations due on and after July 1, 2011.
   (b) The annual amount of the license fee for any commercial
vehicle as described in Section 9400.1 of the Vehicle Code, shall be
a sum equal to 0.65 percent of the market value of the vehicle as
determined by the department.
   (c) Notwithstanding Chapter 5 (commencing with Section 11001) or
any other law  to the contrary  , all revenues
 (including penalties)   , including penalties
 , less refunds, attributable to that portion of the rate
imposed pursuant to this section in excess of 0.65 percent shall be
deposited into the General Fund.