California 2021-2022 Regular Session Status: In Committee 2 R cosponsors

AB 249 — Income tax credits: research credit.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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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 2021-2022 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 to a credit allowed by federal income tax laws, allow a credit against taxes imposed by those laws for increasing research activities. In general, the amount of the credit under those laws is equal to 15% of the excess of the qualified research expenses, as defined, for the taxable year over the base amount, as defined. Additionally, the Corporation Tax Law, in modified conformity to that credit allowed by federal income tax laws, allows a credit of 24% of the basic research payments, as defined. This bill would, under both laws for each taxable year beginning on or after January 1, 2022, and before January 1, 2027, increase the amount of the credit to 20% of the excess of the qualified research expenses for the taxable year over the base amount. The bill would also, under the Corporation Tax Law for each taxable year beginning on or after January 1, 2022, and before January 1, 2027, increase the amount of the credit for basic research payments to 30%. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. The bill also would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Held under submission.

  4. From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 1.) (January 10). Re-referred to Com. on APPR.

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

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

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

  8. From printer. May be heard in committee February 14.

  9. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (120)

120 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

Do pass and be re-referred to the Committee on [Appropriations]

Passed 8 Yea · 1 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 1000
Unaffiliated 4102
Democratic 3000
Total 8102
% of votes cast 73%9%0%18%
How each member voted (11)
Member Party Vote
Quirk — Nay
Mayes — Not Voting
Gray — Not Voting
Burke — Yea
Levine — Yea
Mullin — Yea
Luz Rivas — Yea
Grayson, Timothy S. Democratic Yea
Nguyen, Stephanie Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Seyarto, Kelly Republican Yea

Official roll call →

Subjects

taxation technology
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Frequently asked questions

What does AB 249 do?
The Personal Income Tax Law and the Corporation Tax Law, in modified conformity to a credit allowed by federal income tax laws, allow a credit against taxes imposed by those laws for increasing research activities. In general, the amount of the credit under those laws is equal to 15% of the excess of the qualified research expenses, as defined, for the taxable year over the base amount, as defined. Additionally, the Corporation Tax Law, in modified conformity to that credit allowed by federal income tax laws, allows a credit of 24% of the basic research payments, as defined. This bill would, under both laws for each taxable year beginning on or after January 1, 2022, and before January 1, 2027, increase the amount of the credit to 20% of the excess of the qualified research expenses for the taxable year over the base amount. The bill would also, under the Corporation Tax Law for each taxable year beginning on or after January 1, 2022, and before January 1, 2027, increase the amount of the credit for basic research payments to 30%. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. The bill also would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
Who sponsors AB 249?
AB 249 is sponsored by Choi, Steven S. (Republican) and Seyarto, Kelly (Republican).
What is the current status of AB 249?
This bill died with 2021-2022 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 249?
Track AB 249 free on One Click Politics — get push/email alerts when it moves.

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