California 2017-2018 Regular Session Status: In Committee 1 D cosponsors

AB 2999 — Income taxes: credits: affordable housing.

Last action — In committee: Held under submission.

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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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2019, and before January 1, 2024, in an amount equal to 25% of the value of qualified land or property donated to a nonprofit organization by a taxpayer during the taxable year for the construction of affordable housing, as defined. The bill would limit the aggregate amount of these credits to be allocated in any fiscal year to up to $10,000,000 and would require these credits to be allocated on a first-come-first-served basis. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. In committee: Held under submission.

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

  3. Re-referred to Com. on APPR.

  4. Read second time and amended.

  5. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (May 9).

  6. From committee: Do pass and re-refer to Com. on H. & C.D. (Ayes 9. Noes 1.) (May 7). Re-referred to Com. on H. & C.D.

  7. (pending re-refer to Com. on H. & C.D.)

  8. Assembly Rule 56 suspended. (Page 4924.)

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

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

  11. Referred to Coms. on REV. & TAX. and H. & C.D.

  12. From printer. May be heard in committee March 19.

  13. Read first time. To print.

Sponsors

Sponsorship breakdown

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

Sponsors (1)

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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Votes

Subjects

taxation housing
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Frequently asked questions

What does AB 2999 do?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2019, and before January 1, 2024, in an amount equal to 25% of the value of qualified land or property donated to a nonprofit organization by a taxpayer during the taxable year for the construction of affordable housing, as defined. The bill would limit the aggregate amount of these credits to be allocated in any fiscal year to up to $10,000,000 and would require these credits to be allocated on a first-come-first-served basis. This bill would take effect immediately as a tax levy.
Who sponsors AB 2999?
AB 2999 is sponsored by Bonta, Mia (Democratic).
What is the current status of AB 2999?
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 2999?
Track AB 2999 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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