California 2015-2016 Regular Session Status: In Committee 1 D cosponsors

AB 2055 — Income taxation: credits: California competes.

Last action — In committee: Held under submission.

Track this bill free

No card. One bill, free forever — alerts when it moves.

  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 2015-2016 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Existing law allows a credit against the taxes imposed under the Corporation Tax Law and the Personal Income Tax Law for each taxable year beginning on or after January 1, 2014, and before January 1, 2025, in an amount as provided in a written agreement between the Governor's Office of Business and Economic Development and the taxpayer, agreed upon by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. Existing law limits the aggregate amount of credits allocated to taxpayers to a specified sum per fiscal year through the 2017–18 fiscal year and reserves 25% of that amount for small businesses, as defined. Existing law authorizes the Director of Finance to increase the aggregate amount of the economic development credits that may be allocated to taxpayers each fiscal year by $25 million per fiscal year through the 2017–18 fiscal year. This bill would, beginning in the 2018–19 fiscal year, reserve 25% of the aggregate amount of credits for taxpayers that make qualified sustainable freight investments, as defined, and would require the Franchise Tax Board to review the books and records of these taxpayers to ensure compliance with the taxpayer's written agreement with GO-Biz. The bill would also make findings relating to California's seaports and trade corridors and zero-emission and near-zero-emission technology. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. In committee: Held under submission.

  2. In committee: Set, first hearing. Referred to APPR. suspense file.

  3. From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 9). Re-referred to Com. on APPR.

  4. In committee: Set, first hearing. Referred to REV. & TAX. suspense file.

  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 March 19.

  9. Read first time. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

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

Votes

Subjects

taxation environment technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2055 do?
Existing law allows a credit against the taxes imposed under the Corporation Tax Law and the Personal Income Tax Law for each taxable year beginning on or after January 1, 2014, and before January 1, 2025, in an amount as provided in a written agreement between the Governor's Office of Business and Economic Development and the taxpayer, agreed upon by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. Existing law limits the aggregate amount of credits allocated to taxpayers to a specified sum per fiscal year through the 2017–18 fiscal year and reserves 25% of that amount for small businesses, as defined. Existing law authorizes the Director of Finance to increase the aggregate amount of the economic development credits that may be allocated to taxpayers each fiscal year by $25 million per fiscal year through the 2017–18 fiscal year. This bill would, beginning in the 2018–19 fiscal year, reserve 25% of the aggregate amount of credits for taxpayers that make qualified sustainable freight investments, as defined, and would require the Franchise Tax Board to review the books and records of these taxpayers to ensure compliance with the taxpayer's written agreement with GO-Biz. The bill would also make findings relating to California's seaports and trade corridors and zero-emission and near-zero-emission technology. This bill would take effect immediately as a tax levy.
Who sponsors AB 2055?
AB 2055 is sponsored by Gipson, Mike A. (Democratic).
What is the current status of AB 2055?
This bill died with 2015-2016 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 2055?
Track AB 2055 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on AB 2055

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of AB 2055

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →