California 2009-2010 Regular Session Status: In Committee

SB 622 — Low-income housing tax credits.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

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  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 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Existing law establishes a low-income housing tax credit program, administered by the California Tax Credit Allocation Committee, which provides procedures and requirements for the allocation of state tax credit amounts among low-income housing projects based on federal law Existing law, in the case of a partnership, provides for the allocation of the state low-income housing tax credits, on or after January 1, 2009, and before January 1, 2016, to partners based upon the partnership agreement, regardless of how the federal low-income housing tax credit, as provided, is allocated to the partners, or whether the allocation of the credit under the terms of the agreement has substantial economic effect, as provided. This bill would extend those provisions to a project that receives a preliminary reservation of the state low-income housing tax credit during calendar year 2008, as specified. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Text

Action History

  1. Returned to Secretary of Senate pursuant to Joint Rule 56.

  2. Set, first hearing. Hearing canceled at the request of author.

  3. From committee: Do pass, but first be re-referred to Com. on APPR. (Ayes 7. Noes 0. Page 1283.) Re-referred to Com. on APPR.

  4. Set for hearing June 10.

  5. Re-referred to Com. on REV. & TAX.

  6. Re-referred to Com. on RLS.

  7. Withdrawn from committee.

  8. From committee with author's amendments. Read second time. Amended. Re-referred to Com. on T. & H.

  9. Set, first hearing. Hearing canceled at the request of author.

  10. Set for hearing April 21.

  11. To Com. on T. & H.

  12. Read first time.

  13. From print. May be acted upon on or after March 30.

  14. Introduced. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

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

Sponsors (1)

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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Frequently asked questions

What does SB 622 do?
Existing law establishes a low-income housing tax credit program, administered by the California Tax Credit Allocation Committee, which provides procedures and requirements for the allocation of state tax credit amounts among low-income housing projects based on federal law Existing law, in the case of a partnership, provides for the allocation of the state low-income housing tax credits, on or after January 1, 2009, and before January 1, 2016, to partners based upon the partnership agreement, regardless of how the federal low-income housing tax credit, as provided, is allocated to the partners, or whether the allocation of the credit under the terms of the agreement has substantial economic effect, as provided. This bill would extend those provisions to a project that receives a preliminary reservation of the state low-income housing tax credit during calendar year 2008, as specified. This bill would declare that it is to take effect immediately as an urgency statute.
Who sponsors SB 622?
SB 622 is sponsored by Bonnie Lowenthal.
What is the current status of SB 622?
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 SB 622?
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