California 2021-2022 Regular Session Status: In Committee

AB 2227 — Income taxes: credits: intermodal equipment manufacturing.

Last action — In committee: Hearing for testimony only.

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  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 2021-2022 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law provides that, except as specified, the total credits allowable under those laws may not reduce the taxes imposed by those laws by more than $5,000,000, as provided, for taxable years beginning on or after January 1, 2020, and before January 1, 2023. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would establish credits against the taxes imposed by those laws for taxable years beginning on or after January 1, 2022, and before January 1, 2032, in an amount equal to 6% of the amount paid or incurred during the taxable year by a qualified taxpayer, as defined, for qualified personal tangible property, defined, in part, to include machinery and equipment of qualified businesses engaged in the manufacturing of intermodal equipment, up to $5,000,000. The bill would exclude these credits from the $5,000,000 tax reduction cap described above. The bill would also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Bill Text

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Action History

  1. In committee: Hearing for testimony only.

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

  3. From printer. May be heard in committee March 18.

  4. Read first time. To print.

Sponsors

  • O'Donnell · Primary

Sponsorship breakdown

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

Sponsors (1)

  • O'Donnell

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
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Frequently asked questions

What does AB 2227 do?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law provides that, except as specified, the total credits allowable under those laws may not reduce the taxes imposed by those laws by more than $5,000,000, as provided, for taxable years beginning on or after January 1, 2020, and before January 1, 2023. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would establish credits against the taxes imposed by those laws for taxable years beginning on or after January 1, 2022, and before January 1, 2032, in an amount equal to 6% of the amount paid or incurred during the taxable year by a qualified taxpayer, as defined, for qualified personal tangible property, defined, in part, to include machinery and equipment of qualified businesses engaged in the manufacturing of intermodal equipment, up to $5,000,000. The bill would exclude these credits from the $5,000,000 tax reduction cap described above. The bill would also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
Who sponsors AB 2227?
AB 2227 is sponsored by O'Donnell.
What is the current status of AB 2227?
This bill died with 2021-2022 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 2227?
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