California 2017-2018 Regular Session Status: In Committee Bipartisan · 3 R · 2 D cosponsors

AB 1922 — California Competitiveness and Innovation Act.

Last action — In committee: Set, final hearing. Failed passage.

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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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

(1) Existing property tax law provides, pursuant to the authority of a specified provision of the California Constitution, for a homeowners' exemption in the amount of $7,000 of the full value of a "dwelling," as defined, and authorizes the Legislature to increase this exemption. This bill, beginning with the lien date for the 2019–20 fiscal year, would increase the homeowners' exemption from $7,000 to $14,000 of the full value of a dwelling. This bill, for the 2020–21 fiscal year and for each fiscal year thereafter, would also require the county assessor to adjust the amount of the homeowners' exemption by the percentage change in the House Price Index for California for the first 3 quarters of the prior calendar year, as specified. (2) The Personal Income Tax Law imposes taxes based upon taxable income of individuals, estates, and trusts, at specified rates. This bill, for taxable years beginning on or after January 1, 2018, would revise the personal income tax rates and the amounts of income those rates are imposed upon, as provided. (3) The California Constitution requires the Legislature, whenever it increases the homeowners' property tax exemption, to provide a comparable increase in benefits to qualified renters. The Personal Income Tax Law authorizes various credits against the taxes imposed by that law, including a credit for qualified renters in the amount of $120 for spouses filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000 or less, and in the amount of $60 for other individuals if adjusted gross income is $25,000 or less. Existing law requires the Franchise Tax Board to annually adjust for inflation these adjusted gross income amounts. This bill, for taxable years beginning on and after January 1, 2019, would increase this credit for a qualified renter to $240 for spouses filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000 or less, as adjusted for inflation, and to an amount equal to $120 for other individuals if adjusted gross income is $25,000 or less, as adjusted for inflation. The bill, for taxable years beginning on or after January 1, 2020, would also require the Franchise Tax Board to annually adjust for inflation, based upon the California Consumer Price Index, the amount of these credits. The bill would also make nonsubstantive changes to the renters' credit. (4) The Corporation Tax Law generally imposes a franchise tax on corporations doing business within the limits of this state, including a minimum franchise tax on specified corporations, as provided. This bill would eliminate the minimum franchise tax and make related technical amendments. (5) Existing law requires the state to reimburse local agencies annually for certain property tax revenues lost as a result of any exemption or classification of property for purposes of ad valorem property taxation. This bill would provide that, notwithstanding those provisions, no appropriation is made and the state shall not reimburse local agencies for property tax revenues lost by them pursuant to the bill. (6) This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. In committee: Set, final hearing. Failed passage.

  2. In committee: Set, second hearing. Hearing canceled at the request of author.

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

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

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

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

  7. From printer. May be heard in committee February 24.

  8. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 16 co-sponsors · 105 not signed on · 1 voted No

Sponsors (1)

Co-sponsors (16)

Not signed on (105)

105 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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Votes

Subjects

taxation finance
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Frequently asked questions

What does AB 1922 do?
(1) Existing property tax law provides, pursuant to the authority of a specified provision of the California Constitution, for a homeowners' exemption in the amount of $7,000 of the full value of a "dwelling," as defined, and authorizes the Legislature to increase this exemption. This bill, beginning with the lien date for the 2019–20 fiscal year, would increase the homeowners' exemption from $7,000 to $14,000 of the full value of a dwelling. This bill, for the 2020–21 fiscal year and for each fiscal year thereafter, would also require the county assessor to adjust the amount of the homeowners' exemption by the percentage change in the House Price Index for California for the first 3 quarters of the prior calendar year, as specified. (2) The Personal Income Tax Law imposes taxes based upon taxable income of individuals, estates, and trusts, at specified rates. This bill, for taxable years beginning on or after January 1, 2018, would revise the personal income tax rates and the amounts of income those rates are imposed upon, as provided. (3) The California Constitution requires the Legislature, whenever it increases the homeowners' property tax exemption, to provide a comparable increase in benefits to qualified renters. The Personal Income Tax Law authorizes various credits against the taxes imposed by that law, including a credit for qualified renters in the amount of $120 for spouses filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000 or less, and in the amount of $60 for other individuals if adjusted gross income is $25,000 or less. Existing law requires the Franchise Tax Board to annually adjust for inflation these adjusted gross income amounts. This bill, for taxable years beginning on and after January 1, 2019, would increase this credit for a qualified renter to $240 for spouses filing joint returns, heads of household, and surviving spouses if adjusted gross income is $50,000 or less, as adjusted for inflation, and to an amount equal to $120 for other individuals if adjusted gross income is $25,000 or less, as adjusted for inflation. The bill, for taxable years beginning on or after January 1, 2020, would also require the Franchise Tax Board to annually adjust for inflation, based upon the California Consumer Price Index, the amount of these credits. The bill would also make nonsubstantive changes to the renters' credit. (4) The Corporation Tax Law generally imposes a franchise tax on corporations doing business within the limits of this state, including a minimum franchise tax on specified corporations, as provided. This bill would eliminate the minimum franchise tax and make related technical amendments. (5) Existing law requires the state to reimburse local agencies annually for certain property tax revenues lost as a result of any exemption or classification of property for purposes of ad valorem property taxation. This bill would provide that, notwithstanding those provisions, no appropriation is made and the state shall not reimburse local agencies for property tax revenues lost by them pursuant to the bill. (6) This bill would take effect immediately as a tax levy.
Who sponsors AB 1922?
AB 1922 is sponsored by Bates, Brough, Chen, Phillip (Republican), Cunningham, Fuller, Gallagher, James (Republican), Harper, Kiley, Mathis, Mayes, Steinorth, Vidak, Nguyen, Stephanie (Democratic), Patterson, Joe (Republican), Fong, Mike (Democratic), Beth Gaines, and Bill Berryhill.
What is the current status of AB 1922?
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 1922?
Track AB 1922 free on One Click Politics — get push/email alerts when it moves.

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