California 2011-2012 Regular Session Status: In Committee

AB 577 — Personal income tax: corporation taxes: capital gains: exclusion.

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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 provide that gain or loss upon the disposition of a capital asset is determined by reference to the adjusted basis of that asset. This bill would, for taxable years beginning on or after January 1, 2011, provide that gross income does not include any gain from the sale or exchange of a capital asset, as defined, that is purchased during the 2011 or 2012 calendar year, and is held for more than one year. 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. Hearing canceled at the request of author.

  4. Re-referred to Com. on REV. & TAX.

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

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

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

  8. Read first time. To print.

Sponsors

  • Miller · Primary

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

  • Miller

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

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 AB 577 do?
The Personal Income Tax Law and the Corporation Tax Law provide that gain or loss upon the disposition of a capital asset is determined by reference to the adjusted basis of that asset. This bill would, for taxable years beginning on or after January 1, 2011, provide that gross income does not include any gain from the sale or exchange of a capital asset, as defined, that is purchased during the 2011 or 2012 calendar year, and is held for more than one year. This bill would take effect immediately as a tax levy.
Who sponsors AB 577?
AB 577 is sponsored by Miller.
What is the current status of AB 577?
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 577?
Track AB 577 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on AB 577

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of AB 577

Last checked for changes 2 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →