California 2017-2018 Regular Session Status: Introduced

AB 1346 — Income taxes: credits: supplier diversity goals.

Last action — Died at Desk.

  1. 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 2017-2018 Regular Session. It reached “Introduced” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 authorize various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new income tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements, as provided. This bill would require a taxpayer allowed a credit, which is enacted and becomes effective on or after January 1, 2018, against those taxes to meet supplier diversity goals by procuring supplies from business entities with certifications from certain entities, prior to claiming the credit in the first, 3rd, and 5th taxable years. The bill would exclude taxpayers who are individuals and specified small businesses from the supplier diversity goal requirement. Under the bill, for each taxable year that the supplier diversity goal is not fully met but the taxpayer has achieved a goal of at least 5% overall or at least 50% of its goal for the taxable year, whichever is greater, the percentage of the goal achieved would be the percentage of the tax credit awarded. The bill would require the Franchise Tax Board to audit compliance with these requirements and would require a taxpayer under audit to pay for the cost of the audit.

Bill Text

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Action History

  1. Died at Desk.

  2. From printer. May be heard in committee March 21.

  3. Read first time. To print.

Sponsors

  • Ridley-Thomas · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Ridley-Thomas

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.

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Subjects

taxation
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Frequently asked questions

What does AB 1346 do?
The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new income tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements, as provided. This bill would require a taxpayer allowed a credit, which is enacted and becomes effective on or after January 1, 2018, against those taxes to meet supplier diversity goals by procuring supplies from business entities with certifications from certain entities, prior to claiming the credit in the first, 3rd, and 5th taxable years. The bill would exclude taxpayers who are individuals and specified small businesses from the supplier diversity goal requirement. Under the bill, for each taxable year that the supplier diversity goal is not fully met but the taxpayer has achieved a goal of at least 5% overall or at least 50% of its goal for the taxable year, whichever is greater, the percentage of the goal achieved would be the percentage of the tax credit awarded. The bill would require the Franchise Tax Board to audit compliance with these requirements and would require a taxpayer under audit to pay for the cost of the audit.
Who sponsors AB 1346?
AB 1346 is sponsored by Ridley-Thomas.
What is the current status of AB 1346?
This bill died with 2017-2018 Regular Session. It reached “Introduced” 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 1346?
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