California 2017-2018 Regular Session Status: In Committee 3 D cosponsors

AB 2312 — Taxation.

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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 a credit against the taxes imposed under those laws, for each taxable year beginning on or after January 1, 2014, and before January 1, 2025, in an amount as provided in a written agreement between the Governor's Office of Business and Economic Development and the taxpayer, agreed upon by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. Existing law provides for the allocation of credit amounts through the 2017–18 fiscal year and limits the aggregate amount of credit that may be allocated in a fiscal year. This bill, for the credits described above as may be authorized for allocation for the 2018–19 fiscal year through the 2023–24 fiscal year, would allow up to 50% of the unallocated and recaptured credit amount, if any, from the preceding fiscal year to be reserved as a preliminary allocation to taxpayers that create or retain regionally significant jobs in a manufacturing, research and development, or testing facility, or a corporate headquarters, if the city, county, or city and county that is competing for the establishment, expansion, or retention of a manufacturing, research and development, or testing facility, or a corporate headquarters applies to GO-Biz on behalf of the taxpayer, as provided.

Bill Text

Action History

  1. In committee: Held under submission.

  2. Joint Rule 62(a), file notice suspended. (Page 5298.)

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

  4. Re-referred to Com. on APPR.

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

  6. From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 1.) (May 14). Re-referred to Com. on APPR.

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

  8. Read second time and amended.

  9. From committee: Amend, and do pass as amended and re-refer to Com. on REV. & TAX. (Ayes 7. Noes 0.) (April 17).

  10. Re-referred to Com. on J., E.D., & E.

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

  12. Referred to Coms. on J., E.D., & E. and REV. & TAX.

  13. From printer. May be heard in committee March 16.

  14. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 118 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (118)

118 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.

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

Subjects

taxation
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Frequently asked questions

What does AB 2312 do?
The Personal Income Tax Law and the Corporation Tax Law allow a credit against the taxes imposed under those laws, for each taxable year beginning on or after January 1, 2014, and before January 1, 2025, in an amount as provided in a written agreement between the Governor's Office of Business and Economic Development and the taxpayer, agreed upon by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. Existing law provides for the allocation of credit amounts through the 2017–18 fiscal year and limits the aggregate amount of credit that may be allocated in a fiscal year. This bill, for the credits described above as may be authorized for allocation for the 2018–19 fiscal year through the 2023–24 fiscal year, would allow up to 50% of the unallocated and recaptured credit amount, if any, from the preceding fiscal year to be reserved as a preliminary allocation to taxpayers that create or retain regionally significant jobs in a manufacturing, research and development, or testing facility, or a corporate headquarters, if the city, county, or city and county that is competing for the establishment, expansion, or retention of a manufacturing, research and development, or testing facility, or a corporate headquarters applies to GO-Biz on behalf of the taxpayer, as provided.
Who sponsors AB 2312?
AB 2312 is sponsored by Cervantes, Sabrina (Democratic), Quirk-Silva, Sharon (Democratic), Steinorth, and Garcia, Robert (Democratic).
What is the current status of AB 2312?
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 2312?
Track AB 2312 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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