AB 1651 California Assembly · 2013-2014 Regular Session

Income taxes: deductions: loss of fair market value.

Summary

The Personal Income Tax Law and the Corporation Tax Law authorize various deductions in computing income that is subject to tax under those laws. This bill would allow as a deduction, under both of those laws for taxable years beginning on or after January 1, 2015, the amount of any loss of the fair market value of any tangible personal property located in California that is attributable to a rule, regulation, or statute that took effect in the taxable year in which the deduction is claimed, as provided. This bill would take effect immediately as a tax levy.

Bill status failed 1 of 4 stages cleared

Introduction

Feb 2014

Committee Review

Floor Vote

Governor

Introduced Feb 11, 2014 Last action Nov 30, 2014

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 13, 2014

Lower · Passed

In committee: Set, final hearing. Held under submission.

lower

Apr 21, 2014

Committee

In committee: Referred to REV. & TAX. suspense file.

lower

Apr 7, 2014

Lower · Passed

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

lower

Apr 3, 2014

Committee

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

lower

Apr 2, 2014

Introduced

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

lower

Mar 24, 2014

Lower · Passed

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

lower

Feb 20, 2014

Committee

Referred to Com. on REV. & TAX.

lower

Feb 12, 2014

Lower · Passed

From printer. May be heard in committee March 14.

lower

1 primary · 1 co-sponsor