California 2009-2010 Regular Session Status: In Committee

SB 767 — Corporation tax credits and deductions: suspension.

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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

The Corporation Tax Law authorizes various credits and deductions in computing income subject to taxation. This bill would suspend specified credits and deductions for a taxpayer that is a participant, as specified, in the federal Troubled Assets Relief Program, as provided. 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 XIIIA 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

Action History

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

  2. Hearing postponed by committee.

  3. Set for hearing May 21.

  4. Hearing postponed by committee.

  5. Set for hearing May 13.

  6. Re-referred to Coms. on REV. & TAX. and B., F. & I.

  7. From committee with author's amendments. Read second time. Amended. Re-referred to Com. on RLS.

  8. To Com. on RLS.

  9. Read first time.

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

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

Sponsors

  • Cedillo · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Cedillo

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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

What does SB 767 do?
The Corporation Tax Law authorizes various credits and deductions in computing income subject to taxation. This bill would suspend specified credits and deductions for a taxpayer that is a participant, as specified, in the federal Troubled Assets Relief Program, as provided. 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 XIIIA 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 SB 767?
SB 767 is sponsored by Cedillo.
What is the current status of SB 767?
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 767?
Track SB 767 free on One Click Politics — get push/email alerts when it moves.

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