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

AB 71 — Income taxes: credits: low-income housing: farmworker housing.

Last action — Died on inactive file.

  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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 law establishes a low-income housing tax credit program pursuant to which the California Tax Credit Allocation Committee provides procedures and requirements for the allocation, in modified conformity with federal law, of state insurance, personal income, and corporation tax credit amounts to qualified low-income housing projects that have been allocated, or qualify for, a federal low-income housing tax credit, and farmworker housing. Existing law limits the total annual amount of the state low-income housing credit for which a federal low-income housing credit is required to the sum of $70,000,000, as increased by any percentage increase in the Consumer Price Index for the preceding calendar year, any unused credit for the preceding calendar years, and the amount of housing credit ceiling returned in the calendar year. Existing law additionally allows a state credit, which is not dependent on receiving a federal low-income housing credit, of $500,000 per calendar year for projects to provide farmworker housing. For purposes of determining the credit amount, existing law defines the term "applicable percentage" depending on, among other things, whether the qualified low-income building is a new building that is not federally subsidized, a new building that is federally subsidized, or is an existing building that is "at risk of conversion." Except for specified special needs applications for projects within a difficult development area (DDA) or qualified census tract (QCT) , existing law authorizes all credit ceiling applications to request state credits provided that the applicant is not requesting a 130% basis adjustment for purposes of calculating the federal credit award amount. This bill, under the law governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, for calendar years beginning in 2018, would increase the aggregate housing credit dollar amount that may be allocated among low-income housing projects by an additional $300,000,000, as specified, and would allocate to farmworker housing projects $25,000,000 per year of that amount. The bill, under those laws, would modify the definition of applicable percentage relating to qualified low-income buildings to depend on whether the building is a new or existing building and federally subsidized, or a building that is, among other things, at least 15 years old, serving households of very low income or extremely low income, and will complete substantial rehabilitation, as specified. (2) The Personal Income Tax Law allows various deductions in computing the income that is subject to the taxes imposed by that law, including allowing a deduction for a limited amount of interest paid or accrued on mortgages for a taxpayer's 2nd residence, in modified conformity with federal income tax laws. This bill would disallow that deduction. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Text

Action History

  1. Died on inactive file.

  2. Ordered to inactive file at the request of Assembly Member Chiu.

  3. Read second time. Ordered to third reading.

  4. From committee: Do pass. (Ayes 10. Noes 6.) (May 26).

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

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

  7. Re-referred to Com. on APPR.

  8. From committee chair, with author's amendments: Amend, and re-refer to Com. on APPR. Read second time and amended.

  9. From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 3.) (May 15). Re-referred to Com. on APPR.

  10. From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 5. Noes 2.) (March 8). Re-referred to Com. on REV. & TAX.

  11. Re-referred to Com. on H. & C.D.

  12. From committee chair, with author's amendments: Amend, and re-refer to Com. on H. & C.D. Read second time and amended.

  13. Coauthors revised.

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

  15. Read first time.

  16. From printer. May be heard in committee January 18.

  17. Introduced. To print.

Sponsors

  • Chiu · Primary
  • Ash Kalra · Cosponsor
  • McCarty · Cosponsor
  • Mullin · Cosponsor
  • Ting · Cosponsor
  • Mia Bonta · Cosponsor

Sponsorship breakdown

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1 sponsors · 5 co-sponsors · 116 not signed on · 5 voted No

Sponsors (1)

  • Chiu

Co-sponsors (5)

Not signed on (116)

116 members have not signed on to this bill.

Show all 116 →

"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

Votes

Do pass.

Passed 10 Yea · 6 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 7400
Democratic 3101
Republican 0100
Total 10601
% of votes cast 59%35%0%6%
How each member voted (17)
Member Party Vote
Bigelow — Nay
Bloom — Yea
Brough — Nay
McCarty — Yea
Quirk — Yea
Gonzalez Fletcher — Yea
Bocanegra — Yea
Gray — Nay
Obernolte — Nay
Friedman — Yea
Eduardo Garcia — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Fong, Mike Democratic Nay
Muratsuchi, Al Democratic Not Voting
Reyes, Eloise Gómez Democratic Yea
Gallagher, James Republican Nay

Official roll call →

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 71 do?
(1) Existing law establishes a low-income housing tax credit program pursuant to which the California Tax Credit Allocation Committee provides procedures and requirements for the allocation, in modified conformity with federal law, of state insurance, personal income, and corporation tax credit amounts to qualified low-income housing projects that have been allocated, or qualify for, a federal low-income housing tax credit, and farmworker housing. Existing law limits the total annual amount of the state low-income housing credit for which a federal low-income housing credit is required to the sum of $70,000,000, as increased by any percentage increase in the Consumer Price Index for the preceding calendar year, any unused credit for the preceding calendar years, and the amount of housing credit ceiling returned in the calendar year. Existing law additionally allows a state credit, which is not dependent on receiving a federal low-income housing credit, of $500,000 per calendar year for projects to provide farmworker housing. For purposes of determining the credit amount, existing law defines the term "applicable percentage" depending on, among other things, whether the qualified low-income building is a new building that is not federally subsidized, a new building that is federally subsidized, or is an existing building that is "at risk of conversion." Except for specified special needs applications for projects within a difficult development area (DDA) or qualified census tract (QCT) , existing law authorizes all credit ceiling applications to request state credits provided that the applicant is not requesting a 130% basis adjustment for purposes of calculating the federal credit award amount. This bill, under the law governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, for calendar years beginning in 2018, would increase the aggregate housing credit dollar amount that may be allocated among low-income housing projects by an additional $300,000,000, as specified, and would allocate to farmworker housing projects $25,000,000 per year of that amount. The bill, under those laws, would modify the definition of applicable percentage relating to qualified low-income buildings to depend on whether the building is a new or existing building and federally subsidized, or a building that is, among other things, at least 15 years old, serving households of very low income or extremely low income, and will complete substantial rehabilitation, as specified. (2) The Personal Income Tax Law allows various deductions in computing the income that is subject to the taxes imposed by that law, including allowing a deduction for a limited amount of interest paid or accrued on mortgages for a taxpayer's 2nd residence, in modified conformity with federal income tax laws. This bill would disallow that deduction. This bill would declare that it is to take effect immediately as an urgency statute.
Who sponsors AB 71?
AB 71 is sponsored by Chiu, Kalra, Ash (Democratic), McCarty, Mullin, Ting, and Bonta, Mia (Democratic).
What is the current status of AB 71?
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 71?
Track AB 71 free on One Click Politics — get push/email alerts when it moves.

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