California 2009-2010, 3rd Special Session Status: Introduced

SB 38 — Income tax credit: purchase: principal residence.

Last action — From committee without further action.

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2009-2010, 3rd Special Session. It reached “Introduced” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 authorizes a credit against the taxes imposed by that law in an amount equal to the lesser of 5% of the purchase price or $10,000 in the case of the purchase of a qualified principal residence on and after March 1, 2009, and before March 1, 2010, but not to exceed an aggregate limitation of $100,000,000 for all credits allowable. This bill would allow the credit for purchases made on or after March 1, 2009, and before December 1, 2010, would specify that the purchases are required to be pursuant to an enforceable contract, and would increase the aggregate credit limitation to $300,000,000, as provided. This bill would take effect immediately as a tax levy.

Bill Text

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Action History

  1. From committee without further action.

  2. Introduced. Read first time. To Com. on RLS.

Sponsors

  • Calderon · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Calderon

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 housing
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Frequently asked questions

What does SB 38 do?
The Personal Income Tax Law authorizes a credit against the taxes imposed by that law in an amount equal to the lesser of 5% of the purchase price or $10,000 in the case of the purchase of a qualified principal residence on and after March 1, 2009, and before March 1, 2010, but not to exceed an aggregate limitation of $100,000,000 for all credits allowable. This bill would allow the credit for purchases made on or after March 1, 2009, and before December 1, 2010, would specify that the purchases are required to be pursuant to an enforceable contract, and would increase the aggregate credit limitation to $300,000,000, as provided. This bill would take effect immediately as a tax levy.
Who sponsors SB 38?
SB 38 is sponsored by Calderon.
What is the current status of SB 38?
This bill died with 2009-2010, 3rd Special Session. It reached “Introduced” 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 38?
Track SB 38 free on One Click Politics — get push/email alerts when it moves.

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