California 2019-2020 Regular Session Status: In Committee

AB 3233 — Income taxes: exclusion.

Last action — Referred to Com. on REV. & TAX.

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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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, in modified conformity with federal income tax laws, provide for particular treatment of regulated investment companies, as specified, including by authorizing a regulated investment company to pay exempt-interest dividends to its shareholders if, at the close of each quarter of its taxable year, at least 50 percent of the value of its total assets consists of obligations that, when held by an individual, the interest therefrom is exempt from taxation by this state. This bill would authorize a regulated investment company to pay exempt-interest dividends to its shareholders without requiring 50 percent of the value of its total assets to be constituted as described above. This bill would take effect immediately as a tax levy.

Bill Text

What changed in the latest version

1 added · 1 removed

1 line(s) added, 1 removed.

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Action History

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

  2. Read first time.

  3. From printer. May be heard in committee March 23.

  4. Introduced. To print.

Sponsors

  • Obernolte · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Obernolte

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.

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 3233 do?
The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal income tax laws, provide for particular treatment of regulated investment companies, as specified, including by authorizing a regulated investment company to pay exempt-interest dividends to its shareholders if, at the close of each quarter of its taxable year, at least 50 percent of the value of its total assets consists of obligations that, when held by an individual, the interest therefrom is exempt from taxation by this state. This bill would authorize a regulated investment company to pay exempt-interest dividends to its shareholders without requiring 50 percent of the value of its total assets to be constituted as described above. This bill would take effect immediately as a tax levy.
Who sponsors AB 3233?
AB 3233 is sponsored by Obernolte.
What is the current status of AB 3233?
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 3233?
Track AB 3233 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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