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AB 1

  • California Assembly Bill
  • 2009-2010, 1st Special Session
  • Introduced in Assembly
  • Assembly
  • Senate
  • Governor

Taxation: corporate reorganizations: built-in losses.

Abstract

The Corporation Tax Law, in specified conformity to federal income tax laws, imposes certain limitations on the use of built-in losses in conjunction with corporate reorganizations. This bill would clarify that a specified federal administrative notice relating to those limitations does not apply for purposes of California law. The California Constitution authorizes the Governor to declare a fiscal emergency and to call the Legislature into special session for that purpose. The Governor issued a proclamation declaring a fiscal emergency, and calling a special session for this purpose, on December 1, 2008. This bill would state that it addresses the fiscal emergency declared by the Governor by proclamation issued on December 1, 2008, pursuant to the California Constitution. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Sponsors (1)

Charles Calderon

Author

Votes


No votes to display

Actions


Dec 18, 2008

Assembly

Died at Desk.

Dec 09, 2008

Assembly

From printer.

Dec 08, 2008

Assembly

Read first time. To print.

Bill Text

Bill Text Versions Format
AB1 HTML
12/08/08 - Introduced PDF

Related Documents

Document Format
No related documents.

Sources

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