California 2017-2018 Regular Session Status: In Committee 2 R cosponsors

AB 1216 — Corporation Tax Law: credit: employment.

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

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  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 “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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Corporation Tax Law allows various credits against the taxes imposed by that law. Existing law requires any bill authorizing a new 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. This bill, upon appropriation of specified funds by the Legislature, for each taxable year beginning on and after January 1, 2018, and before January 1, 2025, would allow a credit against the taxes imposed under that law to a qualified taxpayer, as defined to mean a taxpayer that increases its workforce by 20 annual full-time equivalent qualified employees, as compared to the taxpayer's base year, in an amount equal to 17.5% of qualified wages paid or incurred during the taxable year to a qualified employee, not to exceed $5,000,000 per qualified taxpayer per taxable year. The bill would limit the credit to the first 5 consecutive, taxable years after a qualified taxpayer first qualifies to receive the credit, subject to specified requirements. The bill would limit the aggregate amount of credits to be allocated in each calendar year to up to $50,000,000. The bill would require the Franchise Tax Board to allocate and certify credits to taxpayers on a first-come-first-served basis. The bill also would include that additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.

Bill Text

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. In committee: Held under submission.

  4. Joint Rule 62(a), file notice suspended.

  5. In committee: Set, first hearing. Referred to APPR. suspense file.

  6. Re-referred to Com. on APPR.

  7. Read second time and amended.

  8. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 8).

  9. Coauthors revised.

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

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

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

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

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

  15. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 115 not signed on

Sponsors (1)

Co-sponsors (6)

Not signed on (115)

115 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 labor
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Frequently asked questions

What does AB 1216 do?
The Corporation Tax Law allows various credits against the taxes imposed by that law. Existing law requires any bill authorizing a new 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. This bill, upon appropriation of specified funds by the Legislature, for each taxable year beginning on and after January 1, 2018, and before January 1, 2025, would allow a credit against the taxes imposed under that law to a qualified taxpayer, as defined to mean a taxpayer that increases its workforce by 20 annual full-time equivalent qualified employees, as compared to the taxpayer's base year, in an amount equal to 17.5% of qualified wages paid or incurred during the taxable year to a qualified employee, not to exceed $5,000,000 per qualified taxpayer per taxable year. The bill would limit the credit to the first 5 consecutive, taxable years after a qualified taxpayer first qualifies to receive the credit, subject to specified requirements. The bill would limit the aggregate amount of credits to be allocated in each calendar year to up to $50,000,000. The bill would require the Franchise Tax Board to allocate and certify credits to taxpayers on a first-come-first-served basis. The bill also would include that additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.
Who sponsors AB 1216?
AB 1216 is sponsored by Acosta, Choi, Steven S. (Republican), Chávez, Gallagher, James (Republican), Ridley-Thomas, Waldron, and Bill Berryhill.
What is the current status of AB 1216?
This bill died with 2017-2018 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 1216?
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