California 2013-2014 Regular Session Status: In Committee

SB 370 — Income tax: credits: qualified commercial production.

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

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  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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, for each taxable year beginning on or after January 1, 2015, allow credits under both laws in an amount equal to 15% of a specified amount paid or incurred by a qualified taxpayer, as defined, for the production of a qualified commercial, as defined, inside or outside of the studio zone, with the credit not to exceed $13,000,000 annually for credits for qualified commercials produced within a studio zone, and with the credit not to exceed $2,000,000 annually for credits for qualified commercials produced outside of a studio zone in California, as specified. This bill would give the qualified taxpayer the option to carry over the credit or to sell the credit, as specified. This bill would provide that specified information provided to the California Film Commission shall constitute confidential taxpayer information, and would impose specified criminal penalties on the disclosure of that information. By expanding the crime of knowingly and wrongfully accessing, using, or disclosing specified information, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect. 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. From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.

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

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

  5. Set for hearing May 1.

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

  7. (Corrected April 18.)

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

  9. Referred to Com. on RLS.

  10. From printer. May be acted upon on or after March 23.

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

Sponsors

  • Lieu · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Lieu

Co-sponsors (0)

None.

Not signed on (121)

121 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 370 do?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would, for each taxable year beginning on or after January 1, 2015, allow credits under both laws in an amount equal to 15% of a specified amount paid or incurred by a qualified taxpayer, as defined, for the production of a qualified commercial, as defined, inside or outside of the studio zone, with the credit not to exceed $13,000,000 annually for credits for qualified commercials produced within a studio zone, and with the credit not to exceed $2,000,000 annually for credits for qualified commercials produced outside of a studio zone in California, as specified. This bill would give the qualified taxpayer the option to carry over the credit or to sell the credit, as specified. This bill would provide that specified information provided to the California Film Commission shall constitute confidential taxpayer information, and would impose specified criminal penalties on the disclosure of that information. By expanding the crime of knowingly and wrongfully accessing, using, or disclosing specified information, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect. This bill would take effect immediately as a tax levy.
Who sponsors SB 370?
SB 370 is sponsored by Lieu.
What is the current status of SB 370?
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 370?
Track SB 370 free on One Click Politics — get push/email alerts when it moves.

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