California 2013-2014 Regular Session Status: In Committee

SB 810 — Franchise Tax Board: tax credit certificates for exporters and importers: income tax credit.

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

  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 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would authorize the Franchise Tax Board to award tax credit certificates to exporters and importers, as defined, that demonstrate to the satisfaction of the Franchise Tax Board that, during the taxable year, they have increased their cargo tonnage or value through California ports and airports by specified amounts or had a net increase in qualified full-time employees hired in California or have incurred capital costs for a cargo facility in California. The bill would authorize an aggregate $500,000,000 in tax credit certificates to be awarded by the Franchise Tax Board for taxable years beginning on or after January 1, 2014, and before January 1, 2019, as provided. The bill would authorize the Franchise Tax Board to impose fees to cover its costs, with fees to be deposited in the Job and Trade Competitiveness Fee Account, which the bill would create in the State Treasury. The bill would authorize the Franchise Tax Board to borrow money until the time that sufficient fee revenue is available, with loans made to the Franchise Tax Board to be repayable solely from revenues in the account. The bill would make legislative findings and declarations. The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would, for taxable years beginning on or after January 1, 2014, and before January 1, 2019, allow a credit or credits in an aggregate amount not to exceed $250,000 for a taxable year against the taxes imposed by those laws if a taxpayer receives a tax credit certificate from the Franchise Tax Board. 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. Re-referred to Com. on GOV. & F.

  3. Re-referred to Com. on RLS.

  4. Withdrawn from committee.

  5. From committee with author's amendments. Read second time and amended. Re-referred to Com. on T. & H.

  6. Hearing postponed by committee.

  7. Set for hearing April 16.

  8. Set, first hearing. Hearing canceled at the request of author.

  9. Set for hearing April 9.

  10. Referred to Coms. on T. & H. and GOV. & F.

  11. Read first time.

  12. From printer. May be acted upon on or after March 25.

  13. Introduced. To Com. on RLS. for assignment. To print.

Sponsors

  • Lieu · Cosponsor
  • Price · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Price

Co-sponsors (1)

  • Lieu

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.

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Subjects

taxation
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Frequently asked questions

What does SB 810 do?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would authorize the Franchise Tax Board to award tax credit certificates to exporters and importers, as defined, that demonstrate to the satisfaction of the Franchise Tax Board that, during the taxable year, they have increased their cargo tonnage or value through California ports and airports by specified amounts or had a net increase in qualified full-time employees hired in California or have incurred capital costs for a cargo facility in California. The bill would authorize an aggregate $500,000,000 in tax credit certificates to be awarded by the Franchise Tax Board for taxable years beginning on or after January 1, 2014, and before January 1, 2019, as provided. The bill would authorize the Franchise Tax Board to impose fees to cover its costs, with fees to be deposited in the Job and Trade Competitiveness Fee Account, which the bill would create in the State Treasury. The bill would authorize the Franchise Tax Board to borrow money until the time that sufficient fee revenue is available, with loans made to the Franchise Tax Board to be repayable solely from revenues in the account. The bill would make legislative findings and declarations. The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would, for taxable years beginning on or after January 1, 2014, and before January 1, 2019, allow a credit or credits in an aggregate amount not to exceed $250,000 for a taxable year against the taxes imposed by those laws if a taxpayer receives a tax credit certificate from the Franchise Tax Board. This bill would take effect immediately as a tax levy.
Who sponsors SB 810?
SB 810 is sponsored by Lieu and Price.
What is the current status of SB 810?
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 SB 810?
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