California 2011-2012 Regular Session Status: In Committee 1 D cosponsors

SB 358 — Income taxes: gross income: exclusion: depreciation deduction: air quality funds.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

  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 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 define gross income as all income from whatever source derived, unless specifically excluded. This bill would exclude from gross income any amount provided to a person by the State Air Resources Board, an air pollution control district, or an air quality management district, as defined, for the purpose of air pollution reduction. The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal income tax laws, determine the basis for property when determining a gain or loss on the sale or other disposition of that property or when determining a depreciation deduction relating to that property. This bill would provide, under both laws, that for purposes of determining the gain or loss from the sale or other deposition of the property or when determining the depreciation deduction, the basis of the property shall be reduced to the extent the property was acquired with a grant amount by the State Air Resources Board, an air pollution control district, or an air quality management district, as defined, for the purpose of air pollution reduction. 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. Set, first hearing. Hearing canceled at the request of author.

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

  4. Set for hearing January 11.

  5. Hearing postponed by committee.

  6. Set for hearing June 15.

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

  8. Hearing postponed by committee.

  9. Set for hearing May 18.

  10. Hearing postponed by committee.

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

  12. Set for hearing May 11.

  13. Hearing postponed by committee.

  14. Set for hearing April 13.

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

  16. From printer. May be acted upon on or after March 18.

  17. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Cannella · Primary
  • Fuller · Cosponsor
  • Olsen · Cosponsor
  • Susan Rubio · Cosponsor

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 118 not signed on

Sponsors (1)

  • Cannella

Co-sponsors (3)

Not signed on (118)

118 members have not signed on to this bill.

Show all 118 →

"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 environment
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Frequently asked questions

What does SB 358 do?
The Personal Income Tax Law and the Corporation Tax Law define gross income as all income from whatever source derived, unless specifically excluded. This bill would exclude from gross income any amount provided to a person by the State Air Resources Board, an air pollution control district, or an air quality management district, as defined, for the purpose of air pollution reduction. The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal income tax laws, determine the basis for property when determining a gain or loss on the sale or other disposition of that property or when determining a depreciation deduction relating to that property. This bill would provide, under both laws, that for purposes of determining the gain or loss from the sale or other deposition of the property or when determining the depreciation deduction, the basis of the property shall be reduced to the extent the property was acquired with a grant amount by the State Air Resources Board, an air pollution control district, or an air quality management district, as defined, for the purpose of air pollution reduction. This bill would take effect immediately as a tax levy.
Who sponsors SB 358?
SB 358 is sponsored by Cannella, Fuller, Olsen, and Rubio, Susan (Democratic).
What is the current status of SB 358?
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 SB 358?
Track SB 358 free on One Click Politics — get push/email alerts when it moves.

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