California 2013-2014 Regular Session Status: In Committee

AB 132 — Personal income taxes: retirement plans: early distributions.

Last action — From committee without further action pursuant to Joint Rule 62(a).

  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 2013-2014 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 to federal income tax laws, imposes an additional tax upon early distributions from specified retirement plans, as provided. This bill would, for taxable years, beginning on or after January 1, 2014, and before January 1, 2017, exclude from that additional tax the first $6,000 distributed to an individual for the purpose of paying qualified costs, as defined, with respect to acquisition indebtedness for a principal residence, as provided. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. From committee without further action pursuant to Joint Rule 62(a).

  2. In committee: Set, final hearing. Hearing canceled at the request of author.

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

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

  5. In committee: Hearing postponed by committee.

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

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

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

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

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

  11. From printer. May be heard in committee February 16.

  12. Read first time. To print.

Sponsors

  • Holden · Primary
  • Morrell · Cosponsor

Sponsorship breakdown

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

Sponsors (1)

  • Holden

Co-sponsors (1)

  • Morrell

Not signed on (120)

120 members have not signed on to this bill.

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"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 housing
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Frequently asked questions

What does AB 132 do?
The Personal Income Tax Law, in modified conformity to federal income tax laws, imposes an additional tax upon early distributions from specified retirement plans, as provided. This bill would, for taxable years, beginning on or after January 1, 2014, and before January 1, 2017, exclude from that additional tax the first $6,000 distributed to an individual for the purpose of paying qualified costs, as defined, with respect to acquisition indebtedness for a principal residence, as provided. This bill would take effect immediately as a tax levy.
Who sponsors AB 132?
AB 132 is sponsored by Holden and Morrell.
What is the current status of AB 132?
This bill died with 2013-2014 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 132?
Track AB 132 free on One Click Politics — get push/email alerts when it moves.

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