AB 480 California Assembly · 2025-2026 Regular Session

Personal Income Tax Law: Corporation Tax Law: insurance tax law: low-income housing tax credit:

Summary

Existing law establishes a low-income housing tax credit program pursuant to which the California Tax Credit Allocation Committee (CTCAC) provides procedures and requirements for the allocation, in modified conformity with federal law, of state insurance, personal income, and corporation tax credit amounts to qualified low-income housing projects that have been allocated, or qualify for, a federal low-income housing tax credit, and farmworker housing. Existing law limits the total annual amount of the state low-income housing credit for which a federal low-income housing credit is required, as specified. That law authorizes a taxpayer to make an election in its application to the CTCAC to sell all or any portion of any credit allowed. This bill would instead authorize a taxpayer to make that election in the manner prescribed by the CTCAC, as provided.

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

Sep 2025

Assembly Passage

Jun 2025

Senate Passage

Sep 2025

Signed into Law

Oct 2025

Introduced Feb 10, 2025 Signed Oct 10, 2025

Maddy AI version diff · 3 comparisons

What changed between versions

10/10/25 - Chaptered → AB480 · 2 edits

MINOR

The diff shows the removal of the entire official chaptered text of AB 480 (Chapter 492, approved October 10, 2025) with no visible additions in the truncated portion. This appears to represent a transition from the final enrolled/chaptered version to an earlier legislative draft of AB 480, which amends Sections 12206, 17058, and 23610.5 of the Revenue and Taxation Code relating to the state low-income housing tax credit program.

TECHNICAL

The entire official chaptered formatting was removed, including the State of California header, authentication language, chapter number (492), approval date, and legislative counsel's digest.

The full statutory text of amendments to Revenue and Taxation Code Sections 12206, 17058, and 23610.5 was removed from the chaptered version. The bill concerns how taxpayers may elect to sell low-income housing tax credits, changing the election mechanism from 'in its application to the CTCAC' to 'in the manner prescribed by the CTCAC.'

Floor votes · Senate Sep 4, 2025 · Assembly Jun 2, 2025

How they voted

39–0

Passed · 1 other

Total votes 40

Sep 4, 2025

D Democratic30

29 Yea 1

96% Yea

R Republican10

10 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Oct 10, 2025

Signed into law

Approved by the Governor.

legislature

Sep 4, 2025

Lower · Passed

In Assembly. Ordered to Engrossing and Enrolling.

lower

Sep 4, 2025

Upper · Passed

Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2521.).

upper

Aug 29, 2025

Upper · Passed

From committee: Do pass. (Ayes 7. Noes 0.) (August 29).

upper

Aug 25, 2025

Committee

In committee: Referred to suspense file.

upper

Aug 13, 2025

Upper · Passed

In committee: Hearing postponed by committee.

upper

Jul 9, 2025

Upper · Passed

From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 5. Noes 0.) (July 9). Re-referred to Com. on APPR.

upper

Jun 18, 2025

Upper · Passed

From committee: Do pass and re-refer to Com. on REV. & TAX. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (June 17). Re-referred to Com. on REV. & TAX.

upper

Jun 11, 2025

Committee

Referred to Coms. on HOUSING and REV. & TAX.

upper

Jun 2, 2025

Lower · Passed

Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 1832.)

lower

May 23, 2025

Lower · Passed

From committee: Do pass. (Ayes 14. Noes 0.) (May 23).

lower

May 21, 2025

Committee

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

lower

May 14, 2025

Lower · Passed

In committee: Hearing postponed by committee.

lower

Apr 29, 2025

Lower · Passed

From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 28). Re-referred to Com. on APPR.

lower

Apr 28, 2025

Committee

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

lower

Apr 21, 2025

Lower · Passed

In committee: Hearing postponed by committee.

lower

Mar 26, 2025

Lower · Passed

From committee: Do pass and re-refer to Com. on REV. & TAX. with recommendation: To Consent Calendar. (Ayes 10. Noes 0.) (March 26). Re-referred to Com. on REV. & TAX.

lower

Mar 3, 2025

Committee

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

lower

Feb 24, 2025

Committee

Referred to Coms. on REV. & TAX. and H. & C.D.

lower

Feb 11, 2025

Lower · Passed

From printer. May be heard in committee March 13.

lower

1 primary · 0 co-sponsors