California 2023-2024 Regular Session Status: In Committee Bipartisan · 4 R · 1 D cosponsors

SB 927 — Income taxes: gross income exclusions: state of emergency: natural disaster settlements.

Last action — May 16 hearing: Held in committee and under submission.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023-2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally defines gross income as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. This bill, for taxable years beginning on or after January 1, 2023, and before January 1, 2033, would provide an exclusion from gross income for amounts received from a settlement entity, as defined, by a qualified taxpayer, as defined, to replace property damaged or destroyed by a natural disaster that was declared a state of emergency by both the Governor and the President of the United States. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. May 16 hearing: Held in committee and under submission.

  2. Set for hearing May 16.

  3. April 8 hearing: Placed on APPR suspense file.

  4. Set for hearing April 8.

  5. Read second time and amended. Re-referred to Com. on APPR.

  6. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0. Page 3290.) (March 13).

  7. Set for hearing March 13.

  8. Referred to Com. on REV. & TAX.

  9. From printer. May be acted upon on or after February 12.

  10. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 5 co-sponsors · 116 not signed on

Sponsors (1)

Co-sponsors (5)

Not signed on (116)

116 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Votes

Subjects

taxation
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Frequently asked questions

What does SB 927 do?
The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally defines gross income as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. This bill, for taxable years beginning on or after January 1, 2023, and before January 1, 2033, would provide an exclusion from gross income for amounts received from a settlement entity, as defined, by a qualified taxpayer, as defined, to replace property damaged or destroyed by a natural disaster that was declared a state of emergency by both the Governor and the President of the United States. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
Who sponsors SB 927?
SB 927 is sponsored by Jones, Brian W. (Republican), Limón, Monique (Democratic), Nguyen, Ochoa Bogh, Rosilicie (Republican), Seyarto, Kelly (Republican), and Dahle, Megan (Republican).
What is the current status of SB 927?
This bill died with 2023-2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 927?
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