Personal income taxes: credit: deduction: qualified education loan.
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SB 477 — Personal income taxes: credit: deduction: qualified education loan.
Last action — June 24 hearing: Heard for testimony only.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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3Passed Senate
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4Passed Assembly
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5To Executive
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6Enacted
This bill died with 2019-2020 Regular Session. It reached “Passed Senate” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 allows various credits against the taxes imposed by that law and various deductions in computing the income that is subject to the taxes imposed by that law, including a deduction for interest paid on qualified education loans not to exceed $2,500. This bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, would eliminate that deduction for certain taxpayers and allow a credit to those taxpayers against those taxes in an amount equal to the interest paid by the taxpayer during the taxable year on a qualified education loan, as defined, not to exceed $2,000 in the case of spouses filing a joint return or $1,000 for other individuals. The bill would also provide that the credit amount is $0 for taxable years beginning on or after January 1, 2020, and before January 1, 2025, unless otherwise specified in a bill providing for appropriations related to the Budget Act, in which case the bill would instead allow the deduction. The bill, for taxable years beginning on or after January 1, 2025, would make that credit inoperative and would reinstate the eliminated deduction. Existing law requires a bill that would authorize a new credit against the tax imposed by the Personal Income Tax Law or the Corporation Tax Law to contain specific goals, purposes, and objectives that the new credit will achieve, and detailed performance indicators and data collection requirements for determining whether the new credit achieves these goals, purposes, and objectives. This bill would make findings specifying the goals, purposes, and objectives of the above-described tax credits and would require the Franchise Tax Board to provide a report regarding the credit. This bill would take effect immediately as a tax levy.
Bill Text
- Amended 06/17/19 - Amended Assembly Current pdf June 17, 2019
- Amended 05/17/19 - Amended Senate pdf May 17, 2019
- Amended 05/07/19 - Amended Senate pdf May 07, 2019
- Amended 04/24/19 - Amended Senate pdf April 24, 2019
- Introduced 02/21/19 - Introduced pdf February 21, 2019
- SB477 View text html
Action History
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June 24 hearing: Heard for testimony only.
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From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
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Referred to Com. on REV. & TAX.
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In Assembly. Read first time. Held at Desk.
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Read third time. Passed. (Ayes 36. Noes 1. Page 1270.) Ordered to the Assembly.
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Read second time. Ordered to third reading.
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Read second time and amended. Ordered to second reading.
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From committee: Do pass as amended. (Ayes 6. Noes 0. Page 1100.) (May 16).
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Set for hearing May 16.
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May 13 hearing: Placed on APPR. suspense file.
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Set for hearing May 13.
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Read second time and amended. Re-referred to Com. on APPR.
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From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0. Page 903.) (May 1).
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From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
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Set for hearing May 1.
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Referred to Com. on GOV. & F.
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From printer. May be acted upon on or after March 24.
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Introduced. Read first time. To Com. on RLS. for assignment. To print.
Sponsors
- Wieckowski · Primary
- Benjamin Allen · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 120 not signed on
Sponsors (1)
- Wieckowski
Co-sponsors (1)
- Allen, Benjamin Democratic
Not signed on (120)
120 members have not signed on to this bill.
Show all 120 →"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 |
|---|---|---|---|---|
| Unaffiliated | 25 | 1 | 0 | 1 |
| Democratic | 9 | 0 | 0 | 0 |
| Republican | 2 | 0 | 0 | 0 |
| Total | 36 | 1 | 0 | 1 |
| % of votes cast | 95% | 3% | 0% | 3% |
How each member voted (38)
| Member | Party | Vote |
|---|---|---|
| Rubio | — | Yea |
| Monning | — | Yea |
| Wieckowski | — | Yea |
| Mitchell | — | Yea |
| Bradford | — | Yea |
| Wilk | — | Yea |
| Beall | — | Yea |
| Roth | — | Yea |
| Hill | — | Yea |
| Morrell | — | Yea |
| Hueso | — | Yea |
| Leyva | — | Yea |
| Dodd | — | Yea |
| Skinner | — | Yea |
| Allen | — | Yea |
| Borgeas | — | Yea |
| Galgiani | — | Yea |
| Hertzberg | — | Yea |
| Portantino | — | Yea |
| Bates | — | Yea |
| Glazer | — | Yea |
| Nielsen | — | Yea |
| Chang | — | Yea |
| Pan | — | Yea |
| Moorlach | — | Nay |
| Atkins | — | Not Voting |
| Mark Stone | — | Yea |
| Archuleta, Bob | Democratic | Yea |
| Caballero, Anna M. | Democratic | Yea |
| Durazo, Maria Elena | Democratic | Yea |
| Hurtado, Melissa | Democratic | Yea |
| Jackson, Corey A. | Democratic | Yea |
| McGuire, Mike | Democratic | Yea |
| Stern, Henry I. | Democratic | Yea |
| Umberg, Thomas J. | Democratic | Yea |
| Wiener, Scott D. | Democratic | Yea |
| Grove, Shannon | Republican | Yea |
| Jones, Brian W. | Republican | Yea |
| 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 |
|---|---|---|---|---|
| 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 |
|---|---|---|---|---|
| Democratic | 3 | 0 | 0 | 0 |
| Unaffiliated | 3 | 0 | 0 | 1 |
| Total | 6 | 0 | 0 | 1 |
| % of votes cast | 86% | 0% | 0% | 14% |
How each member voted (7)
| Member | Party | Vote |
|---|---|---|
| Nielsen | — | Yea |
| Moorlach | — | Not Voting |
| Hertzberg | — | Yea |
| Beall | — | Yea |
| Hurtado, Melissa | Democratic | Yea |
| McGuire, Mike | Democratic | Yea |
| Wiener, Scott D. | Democratic | Yea |
Subjects
Frequently asked questions
- What does SB 477 do?
- The Personal Income Tax Law allows various credits against the taxes imposed by that law and various deductions in computing the income that is subject to the taxes imposed by that law, including a deduction for interest paid on qualified education loans not to exceed $2,500. This bill, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, would eliminate that deduction for certain taxpayers and allow a credit to those taxpayers against those taxes in an amount equal to the interest paid by the taxpayer during the taxable year on a qualified education loan, as defined, not to exceed $2,000 in the case of spouses filing a joint return or $1,000 for other individuals. The bill would also provide that the credit amount is $0 for taxable years beginning on or after January 1, 2020, and before January 1, 2025, unless otherwise specified in a bill providing for appropriations related to the Budget Act, in which case the bill would instead allow the deduction. The bill, for taxable years beginning on or after January 1, 2025, would make that credit inoperative and would reinstate the eliminated deduction. Existing law requires a bill that would authorize a new credit against the tax imposed by the Personal Income Tax Law or the Corporation Tax Law to contain specific goals, purposes, and objectives that the new credit will achieve, and detailed performance indicators and data collection requirements for determining whether the new credit achieves these goals, purposes, and objectives. This bill would make findings specifying the goals, purposes, and objectives of the above-described tax credits and would require the Franchise Tax Board to provide a report regarding the credit. This bill would take effect immediately as a tax levy.
- Who sponsors SB 477?
- SB 477 is sponsored by Wieckowski and Allen, Benjamin (Democratic).
- What is the current status of SB 477?
- This bill died with 2019-2020 Regular Session. It reached “Passed Senate” 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 477?
- Track SB 477 free on One Click Politics — get push/email alerts when it moves.
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