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SB 1216

  • California Senate Bill
  • 2009-2010 Regular Session
  • Introduced in Senate Feb 18, 2010
  • Senate
  • Assembly
  • Governor

Taxation: low-income housing credit.

Abstract

Existing law establishes a low-income housing tax credit program, administered by the California Tax Credit Allocation Committee, which provides procedures and requirements for the allocation of state insurance, income, and corporation tax credits among low-income housing projects based on federal law. This bill would authorize the California Tax Credit Allocation Committee, in any year beginning before January 1, 2016, in which it has a surplus of state insurance, income, and corporation tax credits to be allocated pursuant to the above provisions, with the approval of the applicant, to allocate those credits in excess of 30% of the eligible basis of a new building or rehabilitation expenditure and reduce the amount of federal credits accordingly to ensure that the combined amount of state and federal credits do not exceed the total credits allowable, provided the state credits shall not exceed 80% of the eligible basis, as prescribed. This bill would take effect immediately as a tax levy.

Bill Sponsors (1)

Gilbert Cedillo

  • Democratic
Author

Votes


Actions


Nov 30, 2010

Senate

From committee without further action.

May 27, 2010

Senate

Held in committee and under submission.

May 25, 2010

Senate

(Suspense - for vote only).

Senate

Set for hearing May 27.

May 24, 2010

Senate

Placed on APPR suspense file.

May 14, 2010

Senate

Set for hearing May 24.

May 12, 2010

Senate

Read second time. Amended. Re-referred to Com. on APPR.

  • Referral-Committee
  • Reading-2
  • Reading-1
Com. on APPR.

May 11, 2010

Senate

From committee: Do pass as amended, but first amend, and re-refer to Com. on APPR. (Ayes 4. Noes 0. Page 3419.)

Apr 21, 2010

Senate

Set for hearing April 28.

Apr 19, 2010

Senate

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

  • Referral-Committee
Com. on REV. & TAX.

Apr 15, 2010

Senate

Withdrawn from committee.

Senate

Re-referred to Com. on RLS.

  • Referral-Committee
Com. on RLS.

Apr 07, 2010

Senate

From committee: Do pass, but first be re-referred to Com. on APPR. (Ayes 8. Noes 0. Page 3103.) Re-referred to Com. on APPR.

  • Referral-Committee
  • Committee-Passage-Favorable
  • Committee-Passage
Com. on APPR. (Ayes 8. Noes 0. Page 3103.) Re-referred to Com. on APPR.

Apr 05, 2010

Senate

From committee with author's amendments. Read second time. Amended. Re-referred to Com. on T. & H.

  • Reading-1
  • Referral-Committee
  • Reading-2
  • Committee-Passage
Com. on T. & H.

Mar 19, 2010

Senate

Set for hearing April 6.

Mar 04, 2010

Senate

To Com. on T. & H.

Feb 19, 2010

Senate

From print. May be acted upon on or after March 21.

Feb 18, 2010

Senate

Introduced. Read first time. To Com. on RLS. for assignment. To print.

Bill Text

Bill Text Versions Format
SB1216 HTML
02/18/10 - Introduced PDF
04/05/10 - Amended Senate PDF
05/12/10 - Amended Senate PDF

Related Documents

Document Format
No related documents.

Sources

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