California 2013-2014 Regular Session Status: To Executive

AB 1399 — Income taxation: insurance taxation: credits: California New Markets Tax Credit.

Last action — Vetoed by Governor.

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

This bill died with 2013-2014 Regular Session. It reached “To Executive” 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law creates the California Competes Tax Credit Committee, which has specified duties in regard to tax credits for economic development. Existing law establishes the Governor's Office of Business and Economic Development, also known as "GO-Biz," to, among other duties, serve the Governor as the lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. Existing law imposes an annual tax on the gross premiums of an insurer, as defined, doing business in this state at specified rates. This bill would allow a credit under the Personal Income Tax Law and the Corporation Tax Law, and a credit against the tax imposed on an insurer, in modified conformity with a federal New Markets Tax Credit, for taxable years beginning on or after January 1, 2015, and before January 1, 2027, in a specified amount for investments in low-income communities. The bill would limit the total annual amount of credit allowed pursuant to these provisions to an amount equal to any portion not granted under a specified sales and use tax exclusion, not to exceed $40,000,000 per calendar year, and would limit the allocation of the credit to a cumulative total of no more than $200,000,000, as provided. The bill would impose specified duties on the California Competes Tax Credit Committee and GO-Biz with regard to the application for, and allocation of, the credit. The bill would require GO-Biz to establish and impose reasonable fees upon entities that apply for the allocation of the credit, to be deposited in the California New Markets Tax Credit Fund established by the bill, and use the revenue, upon appropriation by the Legislature, to defray the cost of applying to, and administering the program, as specified. The bill would specify that the credit would not be allowed unless the Legislature makes an appropriation from the fund. The bill would provide that its provisions are severable. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. Vetoed by Governor.

  2. Enrolled and presented to the Governor at 4 p.m.

  3. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 74. Noes 2. Page 6718.).

  4. Assembly Rule 63 suspended. (Page 6717.)

  5. From committee: That the Senate amendments be concurred in. (Ayes 9. Noes 0.) (August 29).

  6. Joint Rule 62(a), file notice suspended. (Ayes 55. Noes 24. Page 6645.)

  7. Re-referred to Com. on REV. & TAX. pursuant to Assembly Rule 77.2.

  8. In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 29 pursuant to Assembly Rule 77.

  9. Read third time. Passed. Ordered to the Assembly. (Ayes 35. Noes 0. Page 4894.).

  10. Read second time. Ordered to third reading.

  11. Read third time and amended. Ordered to second reading.

  12. Read second time and amended. Ordered to third reading.

  13. From committee: Do pass as amended. (Ayes 5. Noes 0.) (August 14).

  14. In committee: Placed on APPR. suspense file.

  15. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR.

  16. In committee: Hearing postponed by committee.

  17. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR.

  18. From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (June 25). Re-referred to Com. on APPR.

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

  20. In committee: Set, second hearing. Hearing canceled at the request of author.

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

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

  23. Re-referred to Com. on GOV. & F.

  24. Re-referred to Com. on RLS. pursuant to Senate Rule 29.10(c) .

  25. Read second time. Ordered to third reading.

  26. Read third time and amended. Ordered to second reading.

  27. Read second time. Ordered to third reading.

  28. Read second time and amended. Ordered to second reading.

  29. Ordered to second reading.

  30. From inactive file.

  31. Ordered to inactive file at the request of Senator Corbett.

  32. Read second time. Ordered to third reading.

  33. From committee: Be placed on second reading file pursuant to Senate Rule 28.8.

  34. From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (June 24). Re-referred to Com. on APPR.

  35. Referred to Com. on B., P. & E.D.

  36. In Senate. Read first time. To Com. on RLS. for assignment.

  37. Read third time. Passed. Ordered to the Senate. (Ayes 70. Noes 0. Page 1479.)

  38. Read second time. Ordered to consent calendar.

  39. From committee: Do pass. To consent calendar. (Ayes 17. Noes 0.) (May 8).

  40. From committee: Do pass and re-refer to Com. on APPR. with recommendation: to consent calendar. (Ayes 9. Noes 0.) (April 23). Re-referred to Com. on APPR.

  41. Referred to Com. on J., E.D., & E.

  42. From printer. May be heard in committee April 11.

  43. Read first time. To print.

Sponsors

Sponsorship breakdown

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

Sponsors (1)

  • Medina

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

AB 1399 MEDINA Concurrence in Senate Amendments

Passed 74 Yea · 2 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 67203
Democratic 4000
Republican 3000
Total 74203
% of votes cast 94%3%0%4%
How each member voted (79)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Bloom — Yea
Bradford — Yea
Brown — Yea
Buchanan — Yea
Jones-Sawyer — Yea
Linder — Yea
Mansoor — Yea
Mullin — Yea
Pan — Yea
Skinner — Yea
Wagner — Yea
Weber — Yea
Williams — Yea
Ammiano — Yea
Bigelow — Yea
Frazier — Yea
Gomez — Yea
Allen — Yea
Lowenthal — Yea
Hagman — Yea
Garcia — Yea
Harkey — Yea
Gray — Yea
Atkins — Yea
Holden — Yea
Fong — Yea
Dababneh — Yea
Bonilla — Yea
Logue — Yea
Daly — Yea
Eggman — Yea
Medina — Yea
Melendez — Yea
Nazarian — Yea
Olsen — Yea
Quirk — Yea
Ridley-Thomas — Yea
Rodriguez — Yea
Waldron — Yea
Wilk — Yea
Gordon — Not Voting
Bocanegra — Yea
Levine — Yea
John A. Pérez — Yea
Salas — Yea
Maienschein — Yea
Campos — Yea
Nestande — Yea
Perea — Yea
Rendon — Yea
Chau — Yea
Chesbro — Not Voting
Chávez — Nay
Conway — Yea
Cooley — Yea
Dickinson — Yea
Ting — Yea
Wieckowski — Yea
Donnelly — Yea
Fox — Yea
Gatto — Nay
Yamada — Yea
Gorell — Yea
Hall — Yea
Beth Gaines — Yea
Jim Patterson — Not Voting
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

3rd Reading AB1399 Medina By Lara

Passed 35 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 33004
Democratic 2001
Total 35005
% of votes cast 88%0%0%13%
How each member voted (40)
Member Party Vote
Anderson — Yea
Huff — Yea
Knight — Yea
Lieu — Yea
Morrell — Yea
Steinberg — Yea
Torres — Yea
Vidak — Yea
Wolk — Yea
Correa — Yea
Evans — Yea
Wyland — Yea
DeSaulnier — Yea
Fuller — Yea
Hernandez — Yea
Hueso — Yea
Cannella — Yea
Lara — Yea
Leno — Yea
Liu — Yea
Mitchell — Yea
Beall — Yea
Block — Yea
Corbett — Yea
Nielsen — Yea
Pavley — Yea
Roth — Yea
Walters — Yea
Wright — Not Voting
De León — Not Voting
Hill — Yea
Monning — Yea
Galgiani — Yea
Yee — Not Voting
Hancock — Not Voting
Beth Gaines — Yea
Bill Berryhill — Yea
Calderon, Lisa Democratic Not Voting
Jackson, Corey A. Democratic Yea
Padilla, Stephen C. Democratic Yea

Official roll call →

Do pass as amended.

Passed 5 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 4002
Democratic 1000
Total 5002
% of votes cast 71%0%0%29%
How each member voted (7)
Member Party Vote
Hill — Yea
Steinberg — Yea
De León — Yea
Lara — Yea
Walters — Not Voting
Beth Gaines — Not Voting
Padilla, Stephen C. Democratic Yea

Official roll call →

AB 1399 J., E.D. & E. Consent Calendar Second Day

Passed 70 Yea · 0 Nay · 9 Other
Party YeaNayPresentNot Voting
Unaffiliated 61007
Democratic 6001
Republican 3001
Total 70009
% of votes cast 89%0%0%11%
How each member voted (79)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Ammiano — Yea
Bloom — Yea
Blumenfield — Yea
Bradford — Yea
Brown — Yea
Buchanan — Not Voting
Harkey — Yea
Holden — Not Voting
Levine — Yea
Maienschein — Yea
Mansoor — Yea
Nazarian — Yea
Pan — Yea
Perea — Yea
Quirk — Yea
Waldron — Yea
Weber — Yea
Chávez — Yea
Gomez — Yea
Gordon — Yea
Lowenthal — Yea
Hagman — Yea
Gray — Yea
Atkins — Yea
Hall — Yea
Mitchell — Yea
Daly — Yea
Bonilla — Yea
Bigelow — Yea
Linder — Yea
Logue — Yea
Olsen — Yea
Skinner — Yea
Torres — Yea
Wilk — Yea
Jones-Sawyer — Yea
Medina — Yea
Wieckowski — Yea
Mullin — Yea
Rendon — Yea
Williams — Yea
Bocanegra — Yea
Campos — Yea
Cooley — Yea
Morrell — Not Voting
John A. Pérez — Yea
Nestande — Yea
Salas — Yea
Ting — Yea
Wagner — Yea
Chau — Yea
Chesbro — Yea
Conway — Yea
Stone — Not Voting
Melendez — Not Voting
Eggman — Not Voting
Dickinson — Yea
Donnelly — Yea
Fox — Yea
Frazier — Yea
Gatto — Yea
Yamada — Yea
Gorell — Yea
Beth Gaines — Not Voting
Roger Hernández — Yea
V. Manuel Pérez — Yea
Allen, Benjamin Democratic Not Voting
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Fong, Mike Democratic Yea
Garcia, Robert Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Not Voting
Jones, Brian W. Republican Yea
Patterson, Joe 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
Ammiano — Yea
Bradford — Yea
Linder — Yea
Weber — Yea
Bocanegra — Yea
Harkey — Yea
Campos — Yea
Bigelow — Yea
Donnelly — Yea
Eggman — Yea
Pan — Yea
Quirk — Yea
Wagner — Yea
Gatto — Yea
Gomez — Yea
Hall — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Subjects

taxation
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Frequently asked questions

What does AB 1399 do?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law creates the California Competes Tax Credit Committee, which has specified duties in regard to tax credits for economic development. Existing law establishes the Governor's Office of Business and Economic Development, also known as "GO-Biz," to, among other duties, serve the Governor as the lead entity for economic strategy and the marketing of California on issues relating to business development, private sector investment, and economic growth. Existing law imposes an annual tax on the gross premiums of an insurer, as defined, doing business in this state at specified rates. This bill would allow a credit under the Personal Income Tax Law and the Corporation Tax Law, and a credit against the tax imposed on an insurer, in modified conformity with a federal New Markets Tax Credit, for taxable years beginning on or after January 1, 2015, and before January 1, 2027, in a specified amount for investments in low-income communities. The bill would limit the total annual amount of credit allowed pursuant to these provisions to an amount equal to any portion not granted under a specified sales and use tax exclusion, not to exceed $40,000,000 per calendar year, and would limit the allocation of the credit to a cumulative total of no more than $200,000,000, as provided. The bill would impose specified duties on the California Competes Tax Credit Committee and GO-Biz with regard to the application for, and allocation of, the credit. The bill would require GO-Biz to establish and impose reasonable fees upon entities that apply for the allocation of the credit, to be deposited in the California New Markets Tax Credit Fund established by the bill, and use the revenue, upon appropriation by the Legislature, to defray the cost of applying to, and administering the program, as specified. The bill would specify that the credit would not be allowed unless the Legislature makes an appropriation from the fund. The bill would provide that its provisions are severable. This bill would take effect immediately as a tax levy.
Who sponsors AB 1399?
AB 1399 is sponsored by Medina and V. Manuel Pérez.
What is the current status of AB 1399?
This bill died with 2013-2014 Regular Session. It reached “To Executive” 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 1399?
Track AB 1399 free on One Click Politics — get push/email alerts when it moves.

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