California 2009-2010, 6th Special Session Status: In Committee

SB 9 — Income and corporation tax credits: research and development.

Last action — From committee without further action.

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  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, 6th Special 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, by reference to a specified federal statute, allow a credit against taxes imposed by those laws for increasing research expenses, as defined. In general, the amount of the credit under both 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, and, in addition, for purposes of the Corporation Tax Law, 24% of the basic research payments, as defined. The term "base amount" means the product of the average annual gross receipts of the taxpayer for each of the specified years preceding the taxable year and the fixed-base percentage, as defined, but in no event less than 50% of the qualified research expenses for the taxable year. A taxpayer may elect an alternative simplified credit for increasing research expenses under federal income tax laws. This bill would increase the credit for increasing research expenses to 20% of the excess of the qualified research expenses over the base amount. This bill would also provide complete conformity to the alternative simplified credit provided under those federal income tax laws. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. From committee without further action.

  2. From committee with author's amendments. Read second time. Amended. Re-referred to Com. on REV. & TAX.

  3. Placed on REV. & TAX. suspense file.

  4. From committee with author's amendments. Read second time. Amended. Re-referred to Com. on REV. & TAX.

  5. Set for hearing May 12.

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

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

Sponsors

  • Walters · Cosponsor
  • Dutton · Primary
  • Anderson · Cosponsor
  • Runner · Cosponsor

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 118 not signed on

Sponsors (1)

  • Dutton

Co-sponsors (3)

  • Walters
  • Anderson
  • Runner

Not signed on (118)

118 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.

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Subjects

taxation technology
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Frequently asked questions

What does SB 9 do?
The Personal Income Tax Law and the Corporation Tax Law, by reference to a specified federal statute, allow a credit against taxes imposed by those laws for increasing research expenses, as defined. In general, the amount of the credit under both 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, and, in addition, for purposes of the Corporation Tax Law, 24% of the basic research payments, as defined. The term "base amount" means the product of the average annual gross receipts of the taxpayer for each of the specified years preceding the taxable year and the fixed-base percentage, as defined, but in no event less than 50% of the qualified research expenses for the taxable year. A taxpayer may elect an alternative simplified credit for increasing research expenses under federal income tax laws. This bill would increase the credit for increasing research expenses to 20% of the excess of the qualified research expenses over the base amount. This bill would also provide complete conformity to the alternative simplified credit provided under those federal income tax laws. This bill would take effect immediately as a tax levy.
Who sponsors SB 9?
SB 9 is sponsored by Walters, Dutton, Anderson, and Runner.
What is the current status of SB 9?
This bill died with 2009-2010, 6th Special 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 9?
Track SB 9 free on One Click Politics — get push/email alerts when it moves.

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