California 2015-2016 Regular Session Status: In Committee Bipartisan · 3 R · 1 D cosponsors

AB 1736 — Personal income taxes: deduction: homeownership savings accounts.

Last action — In committee: Held under submission.

  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This bill is no longer active — its legislative session has ended, so there are no live odds of enactment.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, in modified conformity with federal income tax laws, allows various exclusions from gross income, and allows various deductions in computing the income that is subject to the taxes imposed by that law, including miscellaneous itemized deductions that are allowed only to the extent that the aggregate amount of those deductions exceeds 2% of adjusted gross income. This bill, upon appropriation of specified funds by the Legislature, on and after January 1, 2017, and before January 1, 2019, would allow a deduction, not to exceed specified amounts, of the amount a qualified taxpayer, as defined, contributed in any taxable year to a homeownership savings account and would exclude from gross income any income earned on the moneys contributed to a homeownership savings account. The bill would provide that a qualified taxpayer may withdraw amounts from a homeownership savings account to pay for qualified homeownership savings expenses defined as expenses paid or incurred in connection with the purchase of a principal residence, which is defined by reference to a federal law and includes a mobilehome. The bill would provide that any amount withdrawn from that account that is not used for these expenses would be included as income for that taxpayer. The bill would define various terms for its purposes. 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. Re-referred to Com. on APPR.

  4. Read second time and amended.

  5. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 9).

  6. In committee: Set, second hearing. Referred to REV. & TAX. suspense file.

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

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

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

  10. Read second time and amended.

  11. From committee: Amend, and do pass as amended and re-refer to Com. on REV. & TAX. (Ayes 7. Noes 0.) (April 20).

  12. Re-referred to Coms. on H. & C.D. and REV. & TAX. pursuant to Assembly Rule 96.

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

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

  15. In committee: Set, first hearing. Hearing canceled at the request of author.

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

  17. From printer. May be heard in committee March 3.

  18. Read first time. To print.

Sponsors

  • Achadjian · Cosponsor
  • Anderson · Cosponsor
  • Baker · Cosponsor
  • Brough · Cosponsor
  • Brown · Cosponsor
  • Dahle · Cosponsor
  • Jones · Cosponsor
  • Runner · Cosponsor
  • Cannella · Cosponsor
  • Chang · Cosponsor
  • Fuller · Cosponsor
  • James Gallagher · Cosponsor
  • Glazer · Cosponsor
  • Hadley · Cosponsor
  • Harper · Cosponsor
  • Kim · Cosponsor
  • Tom Lackey · Cosponsor
  • Maienschein · Cosponsor
  • Low · Cosponsor
  • Mathis · Cosponsor
  • Mayes · Cosponsor
  • Morrell · Cosponsor
  • Obernolte · Cosponsor
  • Olsen · Cosponsor
  • Steinorth · Primary
  • Vidak · Cosponsor
  • Waldron · Cosponsor
  • Joe Patterson · Cosponsor
  • Stephanie Nguyen · Cosponsor
  • Beth Gaines · Cosponsor
  • Travis Allen · Cosponsor

Sponsorship breakdown

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1 sponsors · 30 co-sponsors · 91 not signed on

Sponsors (1)

  • Steinorth

Co-sponsors (30)

Not signed on (91)

91 members have not signed on to this bill.

Show all 91 →

"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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Votes

Subjects

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Frequently asked questions

What does AB 1736 do?
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various exclusions from gross income, and allows various deductions in computing the income that is subject to the taxes imposed by that law, including miscellaneous itemized deductions that are allowed only to the extent that the aggregate amount of those deductions exceeds 2% of adjusted gross income. This bill, upon appropriation of specified funds by the Legislature, on and after January 1, 2017, and before January 1, 2019, would allow a deduction, not to exceed specified amounts, of the amount a qualified taxpayer, as defined, contributed in any taxable year to a homeownership savings account and would exclude from gross income any income earned on the moneys contributed to a homeownership savings account. The bill would provide that a qualified taxpayer may withdraw amounts from a homeownership savings account to pay for qualified homeownership savings expenses defined as expenses paid or incurred in connection with the purchase of a principal residence, which is defined by reference to a federal law and includes a mobilehome. The bill would provide that any amount withdrawn from that account that is not used for these expenses would be included as income for that taxpayer. The bill would define various terms for its purposes. This bill would take effect immediately as a tax levy.
Who sponsors AB 1736?
AB 1736 is sponsored by Achadjian, Anderson, Baker, Brough, Brown, Dahle, Jones, Runner, Cannella, Chang, Fuller, Gallagher, James (Republican), Glazer, Hadley, Harper, Kim, Lackey, Tom (Republican), Maienschein, Low, Mathis, Mayes, Morrell, Obernolte, Olsen, Steinorth, Vidak, Waldron, Patterson, Joe (Republican), Nguyen, Stephanie (Democratic), Beth Gaines, and Travis Allen.
What is the current status of AB 1736?
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 1736?
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