California 2009-2010 Regular Session Status: In Committee

AB 2044 — Income tax: credits: enterprise zones.

Last action — From committee without further action.

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

This bill died with 2009-2010 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

The Enterprise Zone Act provides for the designation of enterprise zones by the Department of Community Housing and Development, based on the department's approval of applications from a city, county, or city and county with a geographic area meeting certain criteria. Existing law provides that specified entities within a designated enterprise zone may receive regulatory, tax, and other incentives for private investment and employment. The Personal Income Tax Law and the Corporation Tax Law allow a taxpayer to claim certain tax incentives for activities conducted in an enterprise zone, including: (1) a credit in the amount equal to the sales or use tax paid or incurred during the taxable year in connection with the taxpayer's purchase of qualified property used in an enterprise zone; (2) a credit in an amount equal to the specified percentage of wages paid during the taxable year to a qualified employee, as defined, who is employed by the taxpayer during the taxable year in an enterprise zone; and (3) a credit in the amount equal to 5% of the qualified wages received by the taxpayer during the taxable year for services performed in an enterprise zone. This bill would limit the aggregate amount of credits that may be allocated in any fiscal year, beginning in the 2010-11 fiscal year, to $250,000,000 per year. The Personal Income Tax Law and the Corporation Tax Law with regard to the enterprise zone credit based on "qualified wages," provides that, except as specified, the credit amount is that portion of wages paid or incurred by the taxpayer during the taxable year to qualified employees that does not exceed 150% of the minimum wage, subject to specified requirements. This bill would revise the definition of "qualified wages" for purposes of the credit to provide that qualified wages include that portion of wages paid or incurred by the taxpayer that do not exceed 250% of the minimum wage. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. From committee without further action.

  2. Re-referred to Com. on J.,E.D., & E.

  3. From committee chair, with author's amendments: Amend, and re-refer to Com. on J.,E.D., & E. Read second time and amended.

  4. Referred to Coms. on J.,E.D., & E. and REV. & TAX.

  5. From printer. May be heard in committee March 20.

  6. Read first time. To print.

Sponsors

  • Caballero · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Caballero

Co-sponsors (0)

None.

Not signed on (121)

121 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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Subjects

taxation
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Frequently asked questions

What does AB 2044 do?
The Enterprise Zone Act provides for the designation of enterprise zones by the Department of Community Housing and Development, based on the department's approval of applications from a city, county, or city and county with a geographic area meeting certain criteria. Existing law provides that specified entities within a designated enterprise zone may receive regulatory, tax, and other incentives for private investment and employment. The Personal Income Tax Law and the Corporation Tax Law allow a taxpayer to claim certain tax incentives for activities conducted in an enterprise zone, including: (1) a credit in the amount equal to the sales or use tax paid or incurred during the taxable year in connection with the taxpayer's purchase of qualified property used in an enterprise zone; (2) a credit in an amount equal to the specified percentage of wages paid during the taxable year to a qualified employee, as defined, who is employed by the taxpayer during the taxable year in an enterprise zone; and (3) a credit in the amount equal to 5% of the qualified wages received by the taxpayer during the taxable year for services performed in an enterprise zone. This bill would limit the aggregate amount of credits that may be allocated in any fiscal year, beginning in the 2010-11 fiscal year, to $250,000,000 per year. The Personal Income Tax Law and the Corporation Tax Law with regard to the enterprise zone credit based on "qualified wages," provides that, except as specified, the credit amount is that portion of wages paid or incurred by the taxpayer during the taxable year to qualified employees that does not exceed 150% of the minimum wage, subject to specified requirements. This bill would revise the definition of "qualified wages" for purposes of the credit to provide that qualified wages include that portion of wages paid or incurred by the taxpayer that do not exceed 250% of the minimum wage. This bill would take effect immediately as a tax levy.
Who sponsors AB 2044?
AB 2044 is sponsored by Caballero.
What is the current status of AB 2044?
This bill died with 2009-2010 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 AB 2044?
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