California 2023-2024 Regular Session Status: In Committee 1 D cosponsors

AB 1860 — Personal Income Tax Law: exclusions: student loan debt.

Last action — In committee: Held under submission.

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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 2023-2024 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, in modified conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, including an exclusion for the amount of student loan indebtedness repaid or canceled pursuant to a specified federal law. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would exclude qualified discharge of indebtedness income from gross income. The bill would define "qualified discharge of indebtedness income" for this purpose to mean income that would otherwise be realized from the discharge of student loan debt, as defined, or medical debt that is discharged by a qualifying nonprofit organization. Existing law requires a 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 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: Held under submission.

  2. Joint Rule 62(a), file notice suspended. (Page 5215.)

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

  4. From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 29). Re-referred to Com. on APPR.

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

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

  7. From printer. May be heard in committee February 18.

  8. Read first time. 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

Subjects

taxation education
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Frequently asked questions

What does AB 1860 do?
The Personal Income Tax Law, in modified conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, including an exclusion for the amount of student loan indebtedness repaid or canceled pursuant to a specified federal law. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would exclude qualified discharge of indebtedness income from gross income. The bill would define "qualified discharge of indebtedness income" for this purpose to mean income that would otherwise be realized from the discharge of student loan debt, as defined, or medical debt that is discharged by a qualifying nonprofit organization. Existing law requires a 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 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 1860?
AB 1860 is sponsored by Bauer-Kahan, Rebecca (Democratic).
What is the current status of AB 1860?
This bill died with 2023-2024 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 1860?
Track AB 1860 free on One Click Politics — get push/email alerts when it moves.

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