California 2013-2014 Regular Session Status: Enacted

SB 209 — Income taxes: exclusion: deferral: qualified small business stock.

Last action — Chaptered by Secretary of State. Chapter 543, Statutes of 2013.

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

This bill has been enacted into law. Introduced February 11, 2013. Enacted.

Prognosis

Likely to advance 74% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 3 sponsors

    1 primary, 2 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 8 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

The Personal Income Tax Law, in modified conformity with federal law, provides various exclusions from gross income in computing tax liability. This bill would, in reference to specified federal income tax laws, provide that gross income does not include 38% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, for taxable years beginning on or after January 1, 2008, and before January 1, 2013, as provided. The provisions would be repealed on January 1, 2016. The bill, with regard to personal income tax, would provide that a penalty shall not be imposed with respect to the additional tax, as defined, of a taxpayer, and interest shall not accrue with respect to the additional tax of that taxpayer due for the taxable year. The bill would require the Franchise Tax Board, in the case of a liability for additional tax of a taxpayer, notwithstanding certain other eligibility requirements, to enter into an agreement to accept the full payment of the additional tax in installments over a period not to exceed 5 years. These provisions would be repealed on January 1, 2018. The bill would authorize any claim for credit or refund pursuant to the bill to be filed within 180 days of its effective date, as provided. The bill would make a legislative finding and declaration regarding the public purpose served by the bill. The bill would state that its provisions are not severable, except as provided.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 543, Statutes of 2013.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4:30 p.m.

  4. Assembly amendments concurred in. (Ayes 36. Noes 2. Page 2434.) Ordered to engrossing and enrolling.

  5. In Senate. Concurrence in Assembly amendments pending.

  6. Read third time. Passed. (Ayes 73. Noes 0. Page 3273.) Ordered to the Senate.

  7. Assembly Rule 69(d) suspended. (Page 3272.)

  8. Ordered to third reading.

  9. Read third time and amended. (Page 3197.)

  10. Assembly Rule 69(e) suspended. (Page 3196.)

  11. Read second time. Ordered to third reading.

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

  13. From committee: Do pass as amended. (Ayes 17. Noes 0.) (August 30).

  14. Set, first hearing. Referred to APPR. suspense file.

  15. From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (August 12). Re-referred to Com. on APPR.

  16. Set, first hearing. Referred to REV. & TAX. suspense file.

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

  18. In Assembly. Read first time. Held at Desk.

  19. Read third time. Passed. (Ayes 34. Noes 3. Page 1197.) Ordered to the Assembly.

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

  21. From committee: Do pass as amended. (Ayes 5. Noes 0. Page 1008.) (May 23).

  22. Set for hearing May 23.

  23. Placed on APPR. suspense file.

  24. Set for hearing May 13.

  25. From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 1. Page 751.) (May 1). Re-referred to Com. on APPR.

  26. Set for hearing May 1.

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

  28. From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  29. Referred to Com. on RLS.

  30. From printer. May be acted upon on or after March 14.

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

Sponsors

  • Gorell · Cosponsor
  • Lieu · Primary
  • Perea · Cosponsor

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 119 not signed on

Sponsors (1)

  • Lieu

Co-sponsors (2)

  • Gorell
  • Perea

Not signed on (119)

119 members have not signed on to this bill.

Show all 119 →

"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

Unfinished Supp 2 SB209 Lieu Concurrence

Passed 36 Yea · 2 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 33201
Democratic 3000
Total 36201
% of votes cast 92%5%0%3%
How each member voted (39)
Member Party Vote
Anderson — Yea
Hill — Yea
Knight — Nay
Steinberg — Yea
Walters — Yea
Emmerson — Yea
DeSaulnier — Yea
Wright — Yea
Wyland — Yea
De León — Yea
Evans — Yea
Cannella — Yea
Fuller — Yea
Corbett — Yea
Hancock — Yea
Hernandez — Yea
Correa — Yea
Hueso — Yea
Beall — Not Voting
Block — Yea
Huff — Yea
Lara — Yea
Leno — Yea
Lieu — Yea
Liu — Yea
Monning — Yea
Nielsen — Yea
Pavley — Yea
Roth — Yea
Torres — Yea
Vidak — Yea
Wolk — Nay
Galgiani — Yea
Yee — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Calderon, Lisa Democratic Yea
Jackson, Corey A. Democratic Yea
Padilla, Stephen C. Democratic Yea

Official roll call →

SB 209 Lieu Senate Third Reading By GORELL

Passed 73 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 66005
Democratic 4000
Republican 3000
Total 73005
% of votes cast 94%0%0%6%
How each member voted (78)
Member Party Vote
Achadjian — Yea
Ammiano — Yea
Bloom — Yea
Bradford — Yea
Brown — Yea
Buchanan — Yea
Holden — Yea
Levine — Yea
Linder — Yea
Logue — Yea
Morrell — Yea
Nestande — Yea
Ting — Yea
Wieckowski — Yea
Hagman — Yea
Allen — Yea
Waldron — Yea
Frazier — Yea
Garcia — Yea
Gray — Yea
Atkins — Yea
Gatto — Yea
Fong — Yea
Mitchell — Yea
Campos — Yea
Chau — Yea
Bonilla — Yea
Gordon — Yea
Hall — Yea
Harkey — Yea
Bocanegra — Yea
Jones-Sawyer — Yea
Maienschein — Yea
Mansoor — Not Voting
John A. Pérez — Yea
Medina — Yea
Salas — Yea
Melendez — Yea
Chesbro — Not Voting
Mullin — Yea
Lowenthal — Not Voting
Nazarian — Yea
Olsen — Yea
Alejo — Yea
Bigelow — Yea
Chávez — Yea
Conway — Yea
Cooley — Yea
Dickinson — Yea
Donnelly — Yea
Eggman — Yea
Pan — Yea
Perea — Yea
Quirk — Yea
Rendon — Yea
Skinner — Not Voting
Wagner — Yea
Weber — Yea
Wilk — Yea
Williams — Yea
Daly — Yea
Fox — Yea
Yamada — Yea
Gomez — Yea
Gorell — Yea
Beth Gaines — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Not Voting
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 →

Do pass as amended.

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
Bradford — Yea
Linder — Yea
Weber — Yea
Gatto — Yea
Gomez — Yea
Bocanegra — Yea
Hall — Yea
Harkey — Yea
Campos — Yea
Holden — Yea
Bigelow — Yea
Donnelly — Yea
Eggman — Yea
Pan — Yea
Quirk — Yea
Wagner — Yea
Calderon, Lisa Democratic Yea

Official roll call →

3rd Reading

Passed 34 Yea · 3 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 31302
Democratic 3000
Total 34302
% of votes cast 87%8%0%5%
How each member voted (39)
Member Party Vote
Anderson — Nay
Beall — Yea
Block — Yea
Hueso — Yea
Knight — Not Voting
Leno — Yea
Nielsen — Yea
Roth — Yea
Steinberg — Yea
Torres — Yea
Walters — Yea
Wright — Yea
Emmerson — Yea
Correa — Yea
DeSaulnier — Yea
Wyland — Nay
Cannella — Yea
Evans — Yea
Corbett — Yea
Fuller — Yea
De León — Yea
Galgiani — Yea
Hernandez — Yea
Hill — Yea
Huff — Yea
Hancock — Not Voting
Lara — Yea
Lieu — Yea
Liu — Yea
Monning — Yea
Pavley — Yea
Price — Yea
Wolk — Nay
Yee — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Calderon, Lisa Democratic Yea
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
Lara — Yea
Walters — Not Voting
De León — Yea
Hill — Yea
Steinberg — Yea
Beth Gaines — Not Voting
Padilla, Stephen C. Democratic Yea

Official roll call →

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 209 do?
The Personal Income Tax Law, in modified conformity with federal law, provides various exclusions from gross income in computing tax liability. This bill would, in reference to specified federal income tax laws, provide that gross income does not include 38% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, for taxable years beginning on or after January 1, 2008, and before January 1, 2013, as provided. The provisions would be repealed on January 1, 2016. The bill, with regard to personal income tax, would provide that a penalty shall not be imposed with respect to the additional tax, as defined, of a taxpayer, and interest shall not accrue with respect to the additional tax of that taxpayer due for the taxable year. The bill would require the Franchise Tax Board, in the case of a liability for additional tax of a taxpayer, notwithstanding certain other eligibility requirements, to enter into an agreement to accept the full payment of the additional tax in installments over a period not to exceed 5 years. These provisions would be repealed on January 1, 2018. The bill would authorize any claim for credit or refund pursuant to the bill to be filed within 180 days of its effective date, as provided. The bill would make a legislative finding and declaration regarding the public purpose served by the bill. The bill would state that its provisions are not severable, except as provided.
Who sponsors SB 209?
SB 209 is sponsored by Gorell, Lieu, and Perea.
What is the current status of SB 209?
This bill has been enacted into law. Introduced February 11, 2013. Enacted.
Where can I track SB 209?
Track SB 209 free on One Click Politics — get push/email alerts when it moves.

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