Josh Becker
- Democratic
- Senator
- District 13
Author
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would, for taxable years beginning on or after January 1, 2023, and before January 1, 2028, allow a credit against those taxes in an amount equal to 10% of the amount paid or incurred by a taxpayer during the taxable year for eligible manufacturing costs, except as otherwise specified. The bill would define "eligible manufacturing costs" to mean the cost of newly installed tangible personal property used in green energy products, as defined. The bill would make these provisions operative only for taxable years in which resources are authorized for its purposes in the annual Budget Act or other statute. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.
June 20 hearing: Heard for testimony only.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 38. Noes 0. Page 3986.) Ordered to the Assembly.
Ordered to special consent calendar.
Read second time. Ordered to third reading.
From committee: Do pass as amended. (Ayes 7. Noes 0. Page 3791.) (May 19).
Read second time and amended. Ordered to second reading.
Set for hearing May 19.
May 16 hearing: Placed on APPR suspense file.
Set for hearing May 16.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 0. Page 3609.) (May 4).
From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.
Set for hearing May 4.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
From printer.
Article IV Section 8(a) of the Constitution and Joint Rule 55 dispensed with February 7, 2022, suspending the 30 calendar day requirement.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1301 | HTML |
| 02/18/22 - Introduced | |
| 03/16/22 - Amended Senate | |
| 04/28/22 - Amended Senate | |
| 05/09/22 - Amended Senate | |
| 05/19/22 - Amended Senate | |
| 06/09/22 - Amended Assembly |
| Document | Format |
|---|---|
| 05/02/22- Senate Governance and Finance | |
| 05/13/22- Senate Appropriations | |
| 05/19/22- Senate Appropriations | |
| 05/23/22- Sen. Floor Analyses | |
| 06/17/22- Assembly Revenue and Taxation |
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