California 2013-2014 Regular Session Status: In Committee

AB 901 — Income taxes: exclusion: qualified small business stock.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 with federal law, provides various exclusions from gross income in computing tax liability. This bill would, in modified conformity with federal income tax law, provide that gross income does not include 50% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, as provided. This bill would declare that the retroactive application of this provision serves a public purpose. This bill would make an appropriation from the General Fund of an amount sufficient to make the refunds required pursuant to the changes in law made by this act, including by providing for the waiver of interest and penalties. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Text

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1 line(s) added, 1 removed.

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Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

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

  4. Read first time.

  5. From printer. May be heard in committee March 26.

  6. Introduced. To print.

Sponsors

  • Wieckowski · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Wieckowski

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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
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Frequently asked questions

What does AB 901 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 modified conformity with federal income tax law, provide that gross income does not include 50% of any gain from the sale or exchange of qualified small business stock, as defined, held for more than 5 years, as provided. This bill would declare that the retroactive application of this provision serves a public purpose. This bill would make an appropriation from the General Fund of an amount sufficient to make the refunds required pursuant to the changes in law made by this act, including by providing for the waiver of interest and penalties. This bill would declare that it is to take effect immediately as an urgency statute.
Who sponsors AB 901?
AB 901 is sponsored by Wieckowski.
What is the current status of AB 901?
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 901?
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Last checked for changes 2 months ago · updated continuously

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