California 2011-2012 Regular Session Status: In Committee

AB 643 — Income taxes: hiring credits: investment credits.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  1. ✓
    Introduced
  2. 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 “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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 authorize various credits against the taxes imposed by those laws, including a credit in the amount of $3,000 for each full-time employee hired by a qualified employer applicable to taxable years beginning on or after January 1, 2009, and ending upon a cutoff date calculated based upon an estimate by the Franchise Tax Board of claims cumulatively totaling $400,000,000 for all taxable years, as specified. Existing law also creates the California Tax Credit Allocation Committee, which has specified duties in regard to low-income housing credits. This bill would instead calculate the cutoff date for the above-described hiring credit based upon an estimate by the Franchise Tax Board of claims cumulatively totaling $100,000,000 for all taxable years, as specified. This bill would also authorize a credit under both laws, for taxable years beginning on or after January 1, 2013, and before January 1, 2020, in a specified amount for investments in low-income communities. The bill would limit the total amount of credit allowed pursuant to these provisions to $50,000,000 per year. This bill would impose specified duties on the California Tax Credit Allocation Committee with regard to the application for, and allocation of, the credit. The bill would require the committee to establish and impose reasonable fees upon entities that apply for the allocation of the credit and use the revenue to defray the cost of administering the program, as specified, thereby making an appropriation. This bill would also appropriate $150,000 from the Tax Credit Allocation Fee Account to the committee for purposes of implementing the tax credit. 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

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Set, first hearing. Held under submission.

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

  5. Measure version as amended on January 12 corrected.

  6. Re-referred to Com. on APPR.

  7. Read second time and amended.

  8. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 0.) (January 10).

  9. Re-referred to Com. on J., E.D. & E. pursuant to Assembly Rule 96.

  10. Re-referred to Com. on B. & F.

  11. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

  12. In committee: Set second hearing. Failed passage. Reconsideration granted.

  13. Re-referred to Com. on B. & F.

  14. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

  15. In committee: Set, first hearing. Hearing canceled at the request of author.

  16. Referred to Com. on B. & F.

  17. From printer. May be heard in committee March 19.

  18. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on

Sponsors (1)

  • Davis

Co-sponsors (1)

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

Do pass and be re-referred to the Committee on Appropriations.

Failed 0 Yea · 7 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 0704
Democratic 0001
Total 0705
% of votes cast 0%58%0%42%
How each member voted (12)
Member Party Vote
Fletcher — Nay
Fuentes — Nay
Harkey — Nay
Lara — Nay
Morrell — Not Voting
Skinner — Not Voting
Torres — Nay
Achadjian — Nay
Perea — Nay
Eng — Not Voting
Roger Hernández — Not Voting
Calderon, Lisa Democratic Not Voting

Official roll call →

Set first hearing. Failed passage. Reconsideration granted.

Passed 9 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 9002
Democratic 0001
Total 9003
% of votes cast 75%0%0%25%
How each member voted (12)
Member Party Vote
Fletcher — Yea
Fuentes — Yea
Lara — Yea
Morrell — Not Voting
Perea — Yea
Skinner — Yea
Torres — Yea
Achadjian — Yea
Harkey — Yea
Eng — Yea
Roger Hernández — Not Voting
Calderon, Lisa Democratic Not Voting

Official roll call →

Subjects

taxation housing
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 AB 643 do?
The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws, including a credit in the amount of $3,000 for each full-time employee hired by a qualified employer applicable to taxable years beginning on or after January 1, 2009, and ending upon a cutoff date calculated based upon an estimate by the Franchise Tax Board of claims cumulatively totaling $400,000,000 for all taxable years, as specified. Existing law also creates the California Tax Credit Allocation Committee, which has specified duties in regard to low-income housing credits. This bill would instead calculate the cutoff date for the above-described hiring credit based upon an estimate by the Franchise Tax Board of claims cumulatively totaling $100,000,000 for all taxable years, as specified. This bill would also authorize a credit under both laws, for taxable years beginning on or after January 1, 2013, and before January 1, 2020, in a specified amount for investments in low-income communities. The bill would limit the total amount of credit allowed pursuant to these provisions to $50,000,000 per year. This bill would impose specified duties on the California Tax Credit Allocation Committee with regard to the application for, and allocation of, the credit. The bill would require the committee to establish and impose reasonable fees upon entities that apply for the allocation of the credit and use the revenue to defray the cost of administering the program, as specified, thereby making an appropriation. This bill would also appropriate $150,000 from the Tax Credit Allocation Fee Account to the committee for purposes of implementing the tax credit. 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 643?
AB 643 is sponsored by Davis and V. Manuel Pérez.
What is the current status of AB 643?
This bill died with 2011-2012 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 643?
Track AB 643 free on One Click Politics — get push/email alerts when it moves.

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