California 2015-2016 Regular Session Status: In Committee

SB 1149 — Personal income taxes: credit: principal residence.

Last action — August 11 hearing: Held in committee and under submission.

  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 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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would, for a qualified principal residence, as defined, that is purchased after January 1, 2017, and before January 1, 2020, allow a credit against those taxes in an amount equal to the lesser of 5% of the purchase price or $10,000 to qualified first-time homebuyers, as defined. This bill would require the credit to be applied in equal amounts over 3 successive taxable years and would limit the total amount of the credit that may be allowed to $100,000,000. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. August 11 hearing: Held in committee and under submission.

  2. Set for hearing August 11.

  3. August 1 hearing: Placed on APPR. suspense file.

  4. Set for hearing August 1.

  5. Read second time and amended. Re-referred to Com. on APPR.

  6. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 1. Page 4207.) (June 8).

  7. From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.

  8. Set for hearing June 8.

  9. From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.

  10. May 4 set for second hearing canceled at the request of author.

  11. Set for hearing May 4.

  12. April 27 set for first hearing canceled at the request of author.

  13. Set for hearing April 27.

  14. Referred to Com. on GOV. & F.

  15. From printer. May be acted upon on or after March 20.

  16. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

Sponsorship breakdown

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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.

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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

Placed on suspense file

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 6000
Democratic 1000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Hill — Yea
Lara — Yea
Bates — Yea
Beall — Yea
Mendoza — Yea
Nielsen — Yea
McGuire, Mike Democratic Yea

Official roll call →

Subjects

taxation housing
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 SB 1149 do?
The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would, for a qualified principal residence, as defined, that is purchased after January 1, 2017, and before January 1, 2020, allow a credit against those taxes in an amount equal to the lesser of 5% of the purchase price or $10,000 to qualified first-time homebuyers, as defined. This bill would require the credit to be applied in equal amounts over 3 successive taxable years and would limit the total amount of the credit that may be allowed to $100,000,000. This bill would take effect immediately as a tax levy.
Who sponsors SB 1149?
SB 1149 is sponsored by Mark Stone.
What is the current status of SB 1149?
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 SB 1149?
Track SB 1149 free on One Click Politics — get push/email alerts when it moves.

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