California 2011-2012 Regular Session Status: Passed Assembly

AB 2408 — Taxation: deductions: net operating loss carrybacks.

Last action — Read second time. Ordered to third reading.

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

This bill died with 2011-2012 Regular Session. It reached “Passed Assembly” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 individual and corporate taxpayers to utilize net operating losses and carryovers and carrybacks of those losses for purposes of offsetting their individual and corporate tax liabilities. Existing law allows net operating losses attributable to taxable years beginning on or after January 1, 2013, to be carrybacks to each of the preceding 2 taxable years, as provided. This bill would disallow the use of net operating loss carrybacks by individual and corporate taxpayers. This bill would include a change in state statute that would result in a taxpayer paying a higher tax 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. Read second time. Ordered to third reading.

  2. From committee: Be placed on second reading file pursuant to Senate Rule 28.8.

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

  4. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 3.) (July 3).

  5. Re-referred to Com. on GOV. & F.

  6. Re-referred to Com. on RLS.

  7. Withdrawn from committee.

  8. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on E., U. & C.

  9. Referred to Com. on E., U. & C.

  10. In Senate. Read first time. To Com. on RLS. for assignment.

  11. Read third time. Passed. Ordered to the Senate. (Ayes 50. Noes 27. Page 5067.)

  12. Read second time. Ordered to third reading.

  13. From committee: Do pass. (Ayes 12. Noes 5.) (May 25).

  14. In committee: Set, first hearing. Referred to APPR. suspense file.

  15. From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 3.) (April 16). Re-referred to Com. on APPR.

  16. Referred to Com. on NAT. RES.

  17. Read first time.

  18. From printer. May be heard in committee March 27.

  19. Introduced. To print.

Sponsors

  • DeSaulnier · Cosponsor
  • Skinner · Primary

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on · 5 voted No

Sponsors (1)

  • Skinner

Co-sponsors (1)

  • DeSaulnier

Not signed on (120)

120 members have not signed on to this bill.

Show all 120 →

"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

Votes

AB 2408 SKINNER Assembly Third Reading

Passed 50 Yea · 27 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 0200
Unaffiliated 492503
Democratic 1000
Total 502703
% of votes cast 63%34%0%4%
How each member voted (80)
Member Party Vote
Hall — Not Voting
Butler — Yea
Campos — Yea
Feuer — Yea
Furutani — Yea
Fong — Yea
Allen — Yea
Galgiani — Yea
Gatto — Yea
Gordon — Yea
Carter — Yea
Portantino — Yea
John A. Pérez — Yea
Mitchell — Yea
Gorell — Nay
Hill — Yea
Huber — Yea
Chesbro — Yea
Huffman — Yea
Bonilla — Yea
Atkins — Yea
Lara — Yea
Logue — Nay
Conway — Nay
Mendoza — Yea
Ammiano — Yea
Block — Yea
Cook — Nay
Monning — Yea
Olsen — Nay
Pan — Yea
Skinner — Yea
Swanson — Yea
Torres — Yea
Wagner — Nay
Williams — Yea
Fletcher — Not Voting
Cedillo — Not Voting
Hagman — Nay
Halderman — Nay
Harkey — Nay
Donnelly — Nay
Knight — Nay
Miller — Nay
Nestande — Nay
Nielsen — Nay
Silva — Nay
Smyth — Nay
Valadao — Nay
Achadjian — Nay
Alejo — Yea
Beall — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Hayashi — Yea
Hueso — Yea
Jeffries — Nay
Ma — Yea
Mansoor — Nay
Morrell — Nay
Norby — Nay
Perea — Yea
Solorio — Yea
Wieckowski — Yea
Eng — Yea
Davis — Yea
Dickinson — Yea
Fuentes — Yea
Garrick — Nay
Yamada — Yea
Beth Gaines — Nay
Bill Berryhill — Nay
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Nay
Jones, Brian W. Republican Nay

Official roll call →

Do pass.

Passed 12 Yea · 5 Nay
Party YeaNayPresentNot Voting
Democratic 1000
Unaffiliated 11500
Total 12500
% of votes cast 71%29%0%0%
How each member voted (17)
Member Party Vote
Mitchell — Yea
Campos — Yea
Harkey — Nay
Hill — Yea
Davis — Yea
Ammiano — Yea
Donnelly — Nay
Lara — Yea
Nielsen — Nay
Solorio — Yea
Wagner — Nay
Blumenfield — Yea
Bradford — Yea
Norby — Nay
Fuentes — Yea
Gatto — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Subjects

taxation
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Frequently asked questions

What does AB 2408 do?
The Personal Income Tax Law and the Corporation Tax Law allow individual and corporate taxpayers to utilize net operating losses and carryovers and carrybacks of those losses for purposes of offsetting their individual and corporate tax liabilities. Existing law allows net operating losses attributable to taxable years beginning on or after January 1, 2013, to be carrybacks to each of the preceding 2 taxable years, as provided. This bill would disallow the use of net operating loss carrybacks by individual and corporate taxpayers. This bill would include a change in state statute that would result in a taxpayer paying a higher tax 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 AB 2408?
AB 2408 is sponsored by DeSaulnier and Skinner.
What is the current status of AB 2408?
This bill died with 2011-2012 Regular Session. It reached “Passed Assembly” 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 2408?
Track AB 2408 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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