California 2011-2012 Regular Session Status: Enacted

SB 1544 — Income taxes: disaster losses: Counties of Los Angeles and San Bernardino.

Last action — Chaptered by Secretary of State. Chapter 284, Statutes of 2012.

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

This bill has been enacted into law. Introduced February 24, 2012. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

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, for net operating losses incurred in taxable years beginning on or after January 1, 2008, provides a carryover period of 20 years and 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. Existing law disallows the deduction for net operating losses and net operating loss carryovers in the 2008 to 2011, inclusive, taxable years for a taxpayer with over a specified amount of business income and extends the carryover period for those net operating losses, thus allowing the taxpayer to have the same number of years to utilize the deduction as the taxpayer would have had if the disallowance for those taxable years had not occurred. Existing law disallows net operating loss carrybacks for any net operating losses attributable to taxable years beginning before January 1, 2013, but would allow 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 conform to a specified section of the Internal Revenue Code regarding disaster losses, which would authorize a taxpayer to make an election to claim a deduction for any losses sustained in the Counties of Los Angeles and San Bernardino as a result of the severe winds that occurred in November 2011 on the tax return for the preceding year, as provided. This bill would provide that any provision of law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss does not apply to a net operating loss attributable to those severe winds that occurred in November 2011 in the Counties of Los Angeles and San Bernardino. This bill would make a legislative finding and declaration relating to the statewide public purpose served by the bill. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 284, Statutes of 2012.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4:30 p.m.

  4. In Senate. Ordered to engrossing and enrolling.

  5. Read third time. Passed. (Ayes 79. Noes 0. Page 5971.) Ordered to the Senate.

  6. Read second time. Ordered to consent calendar.

  7. From committee: Do pass. Ordered to consent calendar. (Ayes 17. Noes 0.) (August 8).

  8. From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (July 2). Re-referred to Com. on APPR.

  9. Referred to Com. on REV. & TAX.

  10. In Assembly. Read first time. Held at Desk.

  11. Read third time. Passed. (Ayes 33. Noes 0. Page 3619.) Ordered to the Assembly.

  12. Read second time. Ordered to consent calendar.

  13. From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and ordered to consent calendar.

  14. Set for hearing May 21.

  15. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 9. Noes 0. Page 3458.) (May 9). Re-referred to Com. on APPR.

  16. From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.

  17. Set for hearing May 9.

  18. Referred to Com. on GOV. & F.

  19. Read first time.

  20. From printer. May be acted upon on or after March 26.

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

Sponsors

  • Hernandez · Primary

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

  • Hernandez

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.

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

SB 1544 Hernandez Consent Calendar Second Day

Passed 79 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 76001
Democratic 1000
Republican 2000
Total 79001
% of votes cast 99%0%0%1%
How each member voted (80)
Member Party Vote
Feuer — Yea
Butler — Yea
Garrick — Yea
Hagman — Yea
Halderman — Yea
John A. Pérez — Yea
Mitchell — Yea
Hill — Yea
Atkins — Yea
Huber — Yea
Jeffries — Yea
Campos — Yea
Portantino — Yea
Carter — Yea
Allen — Yea
Ammiano — Yea
Cedillo — Yea
Chesbro — Yea
Cook — Yea
Donnelly — Yea
Mendoza — Yea
Miller — Yea
Pan — Yea
Perea — Yea
Silva — Yea
Solorio — Yea
Valadao — Yea
Wagner — Yea
Wieckowski — Yea
Williams — Yea
Bonilla — Yea
Fong — Yea
Fletcher — Yea
Conway — Yea
Furutani — Yea
Galgiani — Yea
Gordon — Yea
Gorell — Yea
Beall — Yea
Hall — Yea
Lara — Not Voting
Monning — Yea
Morrell — Yea
Nestande — Yea
Nielsen — Yea
Norby — Yea
Smyth — Yea
Swanson — Yea
Torres — Yea
Achadjian — Yea
Alejo — Yea
Block — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Yea
Hayashi — Yea
Hueso — Yea
Huffman — Yea
Knight — Yea
Logue — Yea
Ma — Yea
Mansoor — Yea
Olsen — Yea
Skinner — Yea
Eng — Yea
Davis — Yea
Dickinson — Yea
Fuentes — Yea
Gatto — Yea
Yamada — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass, to Consent Calendar.

Passed 17 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 16000
Democratic 1000
Total 17000
% of votes cast 100%0%0%0%
How each member voted (17)
Member Party Vote
Campos — Yea
Gatto — Yea
Hall — Yea
Hill — Yea
Mitchell — Yea
Norby — Yea
Donnelly — Yea
Wagner — Yea
Blumenfield — Yea
Bradford — Yea
Harkey — Yea
Lara — Yea
Nielsen — Yea
Solorio — Yea
Davis — Yea
Fuentes — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Consent Calendar 2nd

Passed 33 Yea · 0 Nay · 7 Other
Party YeaNayPresentNot Voting
Unaffiliated 32005
Republican 0001
Democratic 1001
Total 33007
% of votes cast 83%0%0%18%
How each member voted (40)
Member Party Vote
Yee — Yea
Hancock — Not Voting
Fuller — Yea
Harman — Yea
Hernandez — Yea
Huff — Yea
Lowenthal — Yea
Cannella — Yea
De León — Yea
Negrete McLeod — Yea
Leno — Yea
Lieu — Yea
Rubio — Yea
Liu — Yea
Corbett — Yea
Blakeslee — Yea
Correa — Yea
Dutton — Yea
Pavley — Yea
Price — Yea
Steinberg — Yea
Vargas — Yea
Walters — Yea
Wolk — Yea
Runner — Not Voting
Kehoe — Not Voting
Alquist — Yea
Anderson — Yea
Simitian — Not Voting
Wright — Yea
Wyland — Not Voting
Emmerson — Yea
Evans — Yea
DeSaulnier — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
La Malfa — Yea
Calderon, Lisa Democratic Not Voting
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Not Voting

Official roll call →

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1544 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, for net operating losses incurred in taxable years beginning on or after January 1, 2008, provides a carryover period of 20 years and 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. Existing law disallows the deduction for net operating losses and net operating loss carryovers in the 2008 to 2011, inclusive, taxable years for a taxpayer with over a specified amount of business income and extends the carryover period for those net operating losses, thus allowing the taxpayer to have the same number of years to utilize the deduction as the taxpayer would have had if the disallowance for those taxable years had not occurred. Existing law disallows net operating loss carrybacks for any net operating losses attributable to taxable years beginning before January 1, 2013, but would allow 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 conform to a specified section of the Internal Revenue Code regarding disaster losses, which would authorize a taxpayer to make an election to claim a deduction for any losses sustained in the Counties of Los Angeles and San Bernardino as a result of the severe winds that occurred in November 2011 on the tax return for the preceding year, as provided. This bill would provide that any provision of law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss does not apply to a net operating loss attributable to those severe winds that occurred in November 2011 in the Counties of Los Angeles and San Bernardino. This bill would make a legislative finding and declaration relating to the statewide public purpose served by the bill. This bill would take effect immediately as a tax levy.
Who sponsors SB 1544?
SB 1544 is sponsored by Hernandez.
What is the current status of SB 1544?
This bill has been enacted into law. Introduced February 24, 2012. Enacted.
Where can I track SB 1544?
Track SB 1544 free on One Click Politics — get push/email alerts when it moves.

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