Taxation: credit: savings plans: qualified ABLE program: small business cash method of accounting.
Do you support it?
Want to know if it passes?
We'll email you when SB 263 moves — a committee vote, a floor vote, or a signature. Nothing else.
Free forever · unsubscribe in one click.
Your answer was recorded either way.
Which district are you in?
Your ZIP is all we need to match you to your own representatives — so we can tell you how they voted on SB 263.
You're tracking SB 263
We'll email you the moment it moves.
SB 263 — Taxation: credit: savings plans: qualified ABLE program: small business cash method of accounting.
Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.
No card. One bill, free forever — alerts when it moves.
-
✓Introduced
-
2In Committee
-
3Passed Senate
-
4Passed Assembly
-
5To Executive
-
6Enacted
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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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
Existing federal law, the Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act) , for taxable years beginning on or after January 1, 2014, encourages and assists individuals and families to save private funds for the purpose of supporting persons with disabilities to maintain their health, independence, and quality of life by excluding from gross income distributions used for qualified disability expenses by a beneficiary of a Qualified ABLE Program established and maintained by a state, as specified. Existing federal law, the Tax Cuts and Jobs Act, increases the amount of contributions allowed to an ABLE account, adds special rules for the increased contribution limit, and exempts from taxation distributions from a qualified tuition program, as defined, rolled into an ABLE account. Existing federal law additionally allows a "savers tax credit" to qualified taxpayers for qualified retirement savings contributions, defined to include contributions by the taxpayer to their ABLE account. Existing law, the Personal Income Tax Law and the Corporation Tax Law, for taxable years beginning on or after January 1, 2016, conforms to these federal income tax law provisions relating to the ABLE Act, as provided. Existing law creates the ABLE Act Board and requires the board to provide an annual listing of distributions to individuals that have an interest in an ABLE account to the Franchise Tax Board, as provided. This bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2026, would conform to those changes made by the Tax Cuts and Jobs Act. The bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2026, would, in partial conformity with the federal "savers tax credit," allow a credit for qualified retirement savings contributions to ABLE accounts. Existing federal law, the Tax Cuts and Jobs Act, allows a small business to use the cash method of accounting if its average annual gross receipts for the 3 taxable years ending with the prior taxable year do not exceed $25,000,000. Existing state law, the Corporation Tax Law, allows a small business to use the cash method of accounting if its average annual gross receipts for the 3 taxable years ending with the prior taxable year do not exceed $5,000,000. This bill, for taxable years beginning on or after January 1, 2020, would conform the Corporation Tax Law to the change made by the Tax Cuts and Jobs Act that increased the allowable amount of annual gross receipts to $25,000,000 for a small business to use the cash method of accounting. This bill would take effect immediately as a tax levy.
Bill Text
- Amended 04/22/19 - Amended Senate Current pdf April 22, 2019
- Introduced 02/12/19 - Introduced pdf February 12, 2019
- SB263 View text html
Action History
-
Returned to Secretary of Senate pursuant to Joint Rule 56.
-
May 16 hearing: Held in committee and under submission.
-
Set for hearing May 16.
-
May 13 hearing: Placed on APPR. suspense file.
-
Set for hearing May 13.
-
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 902.) (May 1). Re-referred to Com. on APPR.
-
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
-
Set for hearing May 1.
-
Referred to Com. on GOV. & F.
-
From printer. May be acted upon on or after March 15.
-
Introduced. Read first time. To Com. on RLS. for assignment. To print.
Sponsors
- Dodd · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 121 not signed on
Sponsors (1)
- Dodd
Co-sponsors (0)
None.
Not signed on (121)
121 members have not signed on to this bill.
Show all 121 →"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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 1 | 0 | 0 | 0 |
| Unaffiliated | 5 | 0 | 0 | 0 |
| Total | 6 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (6)
| Member | Party | Vote |
|---|---|---|
| Wieckowski | — | Yea |
| Portantino | — | Yea |
| Bates | — | Yea |
| Hill | — | Yea |
| Bradford | — | Yea |
| Jones, Brian W. | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 4 | 0 | 0 | 0 |
| Democratic | 3 | 0 | 0 | 0 |
| Total | 7 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (7)
| Member | Party | Vote |
|---|---|---|
| Moorlach | — | Yea |
| Hertzberg | — | Yea |
| Beall | — | Yea |
| Nielsen | — | Yea |
| Hurtado, Melissa | Democratic | Yea |
| McGuire, Mike | Democratic | Yea |
| Wiener, Scott D. | Democratic | Yea |
Subjects
Frequently asked questions
- What does SB 263 do?
- Existing federal law, the Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act) , for taxable years beginning on or after January 1, 2014, encourages and assists individuals and families to save private funds for the purpose of supporting persons with disabilities to maintain their health, independence, and quality of life by excluding from gross income distributions used for qualified disability expenses by a beneficiary of a Qualified ABLE Program established and maintained by a state, as specified. Existing federal law, the Tax Cuts and Jobs Act, increases the amount of contributions allowed to an ABLE account, adds special rules for the increased contribution limit, and exempts from taxation distributions from a qualified tuition program, as defined, rolled into an ABLE account. Existing federal law additionally allows a "savers tax credit" to qualified taxpayers for qualified retirement savings contributions, defined to include contributions by the taxpayer to their ABLE account. Existing law, the Personal Income Tax Law and the Corporation Tax Law, for taxable years beginning on or after January 1, 2016, conforms to these federal income tax law provisions relating to the ABLE Act, as provided. Existing law creates the ABLE Act Board and requires the board to provide an annual listing of distributions to individuals that have an interest in an ABLE account to the Franchise Tax Board, as provided. This bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2026, would conform to those changes made by the Tax Cuts and Jobs Act. The bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2026, would, in partial conformity with the federal "savers tax credit," allow a credit for qualified retirement savings contributions to ABLE accounts. Existing federal law, the Tax Cuts and Jobs Act, allows a small business to use the cash method of accounting if its average annual gross receipts for the 3 taxable years ending with the prior taxable year do not exceed $25,000,000. Existing state law, the Corporation Tax Law, allows a small business to use the cash method of accounting if its average annual gross receipts for the 3 taxable years ending with the prior taxable year do not exceed $5,000,000. This bill, for taxable years beginning on or after January 1, 2020, would conform the Corporation Tax Law to the change made by the Tax Cuts and Jobs Act that increased the allowable amount of annual gross receipts to $25,000,000 for a small business to use the cash method of accounting. This bill would take effect immediately as a tax levy.
- Who sponsors SB 263?
- SB 263 is sponsored by Dodd.
- What is the current status of SB 263?
- 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 SB 263?
- Track SB 263 free on One Click Politics — get push/email alerts when it moves.
Make your voice heard on SB 263
Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.
Stay ahead of SB 263
Last checked for changes 3 months ago · updated continuously
One Click Politics tracks every bill in Congress and all 50 states.
Track this bill →