AB 80

  • California Assembly Bill
  • 2021-2022 Regular Session
  • Introduced in Assembly
  • Passed Assembly Jan 15, 2021
  • Passed Senate Apr 19, 2021
  • Signed by Governor Apr 29, 2021

Taxation: Coronavirus Aid, Relief, and Economic Security Act: Federal Consolidated Appropriations Act, 2021.

Abstract

The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally define "gross income" as income from whatever source derived, except as specifically excluded, and provide various exclusions from gross income. Existing law, in conformity with the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) , and its subsequent amendments in the Paycheck Protection Program and Health Care Enhancement Act and the Paycheck Protection Program Flexibility Act of 2020, among other things, excludes any amounts of covered loans forgiven under the CARES Act from gross income for purposes of the Personal Income Tax Law and the Corporation Tax Law. Existing law reduces the amount of any credit or deduction otherwise allowed under the Personal Income Tax and the Corporation Tax Law for any amount paid or incurred by the taxpayer upon which this exclusion is based by the amount of the exclusion allowed. Existing law requires any 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. Existing federal law, the Consolidated Appropriations Act, 2021, prohibits reductions in tax deductions, denials of basis adjustments, and reductions in tax attributes for federal income tax purposes based on the exclusion from gross income provided in the federal CARES Act and its subsequent amendments. This bill would exclude, for taxable years beginning on or after January 1, 2019, from gross income any advance grant amount, as defined, issued pursuant to specified provisions of the CARES Act or the Consolidated Appropriations Act, 2021, and covered loan amounts forgiven pursuant to the Consolidated Appropriations Act, 2021. This bill would adopt, except as provided, the provisions of the Consolidated Appropriations Act, 2021, prohibiting any reduction in tax deductions, denials of basis adjustments, and reductions in tax attributes based on the exclusion from gross income provided for any loan amount forgiven in modified conformity with the federal CARES Act and its subsequent amendments. This bill would provide findings to comply with the additional information requirement for any bill authorizing a new tax expenditure. This bill would also make findings and declarations related to a gift of public funds. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Sponsors (77)

Gonzalez

     
Principal Coauthor

Rubio

     
Principal Coauthor

Votes


Actions


Apr 29, 2021

California State Legislature

Chaptered by Secretary of State - Chapter 17, Statutes of 2021.

California State Legislature

Approved by the Governor.

Apr 26, 2021

California State Legislature

Enrolled and presented to the Governor at 4:30 p.m.

Assembly

From committee: That the Senate amendments be concurred in. (Ayes 9. Noes 0.) (April 26).

Assembly

Urgency clause adopted. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 75. Noes 0.).

Assembly

Assembly Rule 63 suspended.

Apr 22, 2021

Assembly

Re-referred to Com. on REV. & TAX. pursuant to Assembly Rule 77.2.

  • Referral-Committee
Com. on REV. & TAX. pursuant to Assembly Rule 77.2.

Apr 19, 2021

Assembly

In Assembly. Concurrence in Senate amendments pending. May be considered on or after April 21 pursuant to Assembly Rule 77.

Senate

Read third time. Urgency clause adopted. Passed. Ordered to the Assembly.

Senate

Ordered to third reading.

Senate

Withdrawn from committee.

Apr 15, 2021

Senate

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

  • Amendment-Introduction
  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on B. & F.R.

Mar 15, 2021

Senate

In committee: Hearing postponed by committee.

Mar 08, 2021

Senate

In committee: Hearing postponed by committee.

Mar 03, 2021

Senate

In committee: Hearing postponed by committee.

Mar 02, 2021

Senate

In committee: Hearing postponed by committee.

Feb 22, 2021

Senate

Re-referred to Com. on B. & F.R.

  • Referral-Committee
Com. on B. & F.R.

Feb 18, 2021

Senate

Read second time. Ordered to third reading.

Senate

From committee: Do pass. (Ayes 17. Noes 0.) (February 18).

Senate

Measure version as amended on February 17 corrected.

Feb 17, 2021

Senate

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

  • Amendment-Introduction
  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on B. & F.R.

Feb 16, 2021

Senate

Joint Rule 62(a), file notice suspended.

Feb 02, 2021

Senate

Re-referred to Com. on B. & F.R.

  • Referral-Committee
Com. on B. & F.R.

Jan 27, 2021

Senate

Read second time. Ordered to third reading.

Jan 26, 2021

Senate

From committee: Do pass. (Ayes 11. Noes 0.) (January 26).

Jan 25, 2021

Senate

Referred to Com. on B. & F.R.

  • Referral-Committee
Com. on B. & F.R.

Senate

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

  • Amendment-Introduction
  • Amendment-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on B. & F.R.

Jan 15, 2021

Assembly

Read third time. Passed. Ordered to the Senate. (Ayes 48. Noes 13. Page 160.)

Senate

In Senate. Read first time. To Com. on RLS. for assignment.

Jan 12, 2021

Assembly

Read second time. Ordered to third reading.

Jan 11, 2021

Assembly

Ordered to second reading.

Assembly

(Ayes 46. Noes 13. Page 108.)

Assembly

Without reference to committee.

Dec 08, 2020

Assembly

From printer. May be heard in committee January 7.

Dec 07, 2020

Assembly

Read first time. To print.

Bill Text

Bill Text Versions Format
AB80 HTML
12/07/20 - Introduced PDF
01/25/21 - Amended Senate PDF
02/17/21 - Amended Senate PDF
04/15/21 - Amended Senate PDF
04/26/21 - Enrolled PDF
04/29/21 - Chaptered PDF

Related Documents

Document Format
01/14/21- ASSEMBLY FLOOR ANALYSIS PDF
01/25/21- Senate Committee on Budget and Fiscal Review PDF
01/27/21- Sen. Floor Analyses PDF
02/17/21- Senate Committee on Budget and Fiscal Review PDF
02/19/21- Sen. Floor Analyses PDF
04/19/21- Sen. Floor Analyses PDF
04/23/21- ASSEMBLY FLOOR ANALYSIS PDF
04/23/21- Assembly Revenue and Taxation PDF
04/26/21- ASSEMBLY FLOOR ANALYSIS PDF

Sources

Data on Open States is updated nightly from the official website of the California State Legislature.

If you notice any inconsistencies with these official sources, feel free to file an issue.