California 2011-2012 Regular Session Status: In Committee

SB 556 — Income taxes: federal conformity: Creating Small Business Jobs Act of 2010.

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

Track this bill free

No card. One bill, free forever — alerts when it moves.

  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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, in modified conformity with federal income tax law, provides that gross income does not include 50% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, as provided. This bill, under the Personal Income Tax Law, would conform with federal income tax law, as that law was amended by the Creating Small Business Jobs Act of 2010, providing that gross income does not include 100% of any gain from the sale or exchange of qualified small business stock, acquired in the 2011 calendar year, held for more than 5 years, as provided. 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. Failed passage in committee. (Ayes 3. Noes 6. Page 1053.) Reconsideration granted.

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

  4. Set for hearing May 18.

  5. Hearing postponed by committee.

  6. Set for hearing May 11.

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

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

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

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

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

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 556 do?
The Personal Income Tax Law, in modified conformity with federal income tax law, provides that gross income does not include 50% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, as provided. This bill, under the Personal Income Tax Law, would conform with federal income tax law, as that law was amended by the Creating Small Business Jobs Act of 2010, providing that gross income does not include 100% of any gain from the sale or exchange of qualified small business stock, acquired in the 2011 calendar year, held for more than 5 years, as provided. This bill would take effect immediately as a tax levy.
Who sponsors SB 556?
SB 556 is sponsored by Beth Gaines.
What is the current status of SB 556?
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 556?
Track SB 556 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 556

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 SB 556

Last checked for changes 3 months ago · updated continuously

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

Track this bill →