California 2019-2020 Regular Session Status: In Committee

AB 2217 — Income taxes: credit: capital gain: sale of qualified vacant site.

Last action — In committee: Hearing postponed by committee.

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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 2019-2020 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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. Existing law requires any bill authorizing a new tax expenditure, including tax credits, to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2021, and before January 1, 2033, to a taxpayer that sells a qualified vacant site in an amount equal to 50% of the tax attributable to a capital gain from the sale of a qualified vacant site in the taxable year that it is sold and 50% of the tax imposed on a capital gain from the sale of a qualified vacant site in the taxable year that the construction process begins on the qualified vacant site, as specified. The bill would require a county assessor to provide a report, upon request, to a taxpayer or the Franchise Tax Board relating to use of the qualified vacant site. The bill would also include additional information required for any bill authorizing a new tax expenditure. By imposing additional duties upon county assessors, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. In committee: Hearing postponed by committee.

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

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

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

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

  6. Read first time. To print.

Sponsors

  • Mathis · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Mathis

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.

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

Subjects

taxation
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Frequently asked questions

What does AB 2217 do?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new tax expenditure, including tax credits, to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2021, and before January 1, 2033, to a taxpayer that sells a qualified vacant site in an amount equal to 50% of the tax attributable to a capital gain from the sale of a qualified vacant site in the taxable year that it is sold and 50% of the tax imposed on a capital gain from the sale of a qualified vacant site in the taxable year that the construction process begins on the qualified vacant site, as specified. The bill would require a county assessor to provide a report, upon request, to a taxpayer or the Franchise Tax Board relating to use of the qualified vacant site. The bill would also include additional information required for any bill authorizing a new tax expenditure. By imposing additional duties upon county assessors, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. This bill would take effect immediately as a tax levy.
Who sponsors AB 2217?
AB 2217 is sponsored by Mathis.
What is the current status of AB 2217?
This bill died with 2019-2020 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 2217?
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