Income taxation: deductions: net operating loss carrybacks.
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AB 1936 — Income taxation: deductions: net operating loss carrybacks.
Last action — From committee without further action.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Assembly
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4Passed Senate
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5To Executive
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6Enacted
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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Personal Income Tax Law and the Corporation Tax Law allow various deductions in computing the income that is subject to the taxes imposed by those laws. Existing law allows a deduction for specified net operating losses, including allowing net operating loss carrybacks attributable to taxable years beginning on or after January 1, 2011. This bill would disallow the use of net operating loss carrybacks by individual and corporate taxpayers. This bill would result in a change in state taxes for the purpose of increasing state revenues within the meaning of Section 3 of Article XIII A of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy.
Bill Text
What changed in the latest version
1 added · 1 removed1 line(s) added, 1 removed.
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View plain text versions (2)
- Introduced 02/17/10 - Introduced Current pdf February 17, 2010
- AB1936 View text html
Action History
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From committee without further action.
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In committee: Set, second hearing. Held under submission.
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In committee: Set, first hearing. Referred to APPR. suspense file.
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From committee: Do pass, and re-refer to Com. on APPR. Re-referred. (Ayes 6. Noes 3.) (May 10).
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In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
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Referred to Com. on REV. & TAX.
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From printer. May be heard in committee March 20.
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Read first time. To print.
Sponsors
- De Leon · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 121 not signed on
Sponsors (1)
- De Leon
Co-sponsors (0)
None.
Not signed on (121)
121 members have not signed on to this bill.
Show all 121 →"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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 6 | 3 | 0 | 0 |
| Democratic | 1 | 0 | 0 | 0 |
| Total | 7 | 3 | 0 | 0 |
| % of votes cast | 70% | 30% | 0% | 0% |
How each member voted (10)
| Member | Party | Vote |
|---|---|---|
| Charles | — | Yea |
| Portantino | — | Yea |
| Fuentes | — | Yea |
| Coto | — | Yea |
| Nestande | — | Nay |
| Beall | — | Yea |
| Harkey | — | Nay |
| Ma | — | Yea |
| DeVore | — | Nay |
| Calderon, Lisa | Democratic | Yea |
Subjects
Frequently asked questions
- What does AB 1936 do?
- The Personal Income Tax Law and the Corporation Tax Law allow various deductions in computing the income that is subject to the taxes imposed by those laws. Existing law allows a deduction for specified net operating losses, including allowing net operating loss carrybacks attributable to taxable years beginning on or after January 1, 2011. This bill would disallow the use of net operating loss carrybacks by individual and corporate taxpayers. This bill would result in a change in state taxes for the purpose of increasing state revenues within the meaning of Section 3 of Article XIII A of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy.
- Who sponsors AB 1936?
- AB 1936 is sponsored by De Leon.
- What is the current status of AB 1936?
- 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 1936?
- Track AB 1936 free on One Click Politics — get push/email alerts when it moves.
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