SB 1374

  • California Senate Bill
  • 2021-2022 Regular Session
  • Introduced in Senate Feb 18, 2022
  • Passed Senate May 26, 2022
  • Assembly
  • Governor

Personal income taxes: deduction: California qualified tuition program.

Abstract

The Personal Income Tax Law, in modified conformity with federal income tax law, excludes from the gross income of a beneficiary of, or contributor to, a qualified tuition program, which includes a Golden State Scholarshare College Savings Trust, distributions or earnings under that program, as specified. This bill, for taxable years beginning on or after January 1, 2022, and before January 1, 2027, would allow under that law a deduction against gross income in the amount equal to the monetary contribution made by a qualified taxpayer, as defined, to the California qualified tuition program established pursuant to the Golden State Scholarshare Trust Act not to exceed either $5,000 or $10,000, per beneficiary, as provided. The bill would require, with exceptions, in the case of any distribution in excess of qualified higher education expenses, as defined, the aggregate amount of the deduction allowed that reduced the qualified taxpayer's gross income in any taxable year to be added to the gross income of the qualified taxpayer in the taxable year of the distribution, as provided. The bill would provide that the deduction is only operative for taxable years for which an appropriation is made for its purposes in the annual Budget Act or other statute. 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. This bill would also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Bill Sponsors (1)

Votes


Actions


Jun 20, 2022

Assembly

June 20 hearing: Heard for testimony only.

Jun 02, 2022

Assembly

Referred to Com. on REV. & TAX.

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

May 27, 2022

Assembly

In Assembly. Read first time. Held at Desk.

May 26, 2022

Senate

Read third time. Passed. (Ayes 38. Noes 0.) Ordered to the Assembly.

May 24, 2022

Senate

Ordered to special consent calendar.

May 23, 2022

Senate

Read second time. Ordered to third reading.

May 19, 2022

Senate

Read second time and amended. Ordered to second reading.

Senate

From committee: Do pass as amended. (Ayes 7. Noes 0.) (May 19).

May 13, 2022

Senate

Set for hearing May 19.

May 02, 2022

Senate

May 2 hearing: Placed on APPR suspense file.

Apr 22, 2022

Senate

Set for hearing May 2.

Apr 20, 2022

Senate

From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 3460.) (April 20). Re-referred to Com. on APPR.

  • Committee-Passage
  • Committee-Passage-Favorable
  • Referral-Committee
Com. on APPR.

Apr 18, 2022

Senate

From committee with author's amendments. Read second time and amended. Re-referred to Com. on GOV. & F.

  • Amendment-Passage
  • Committee-Passage
  • Reading-1
  • Reading-2
  • Referral-Committee
Com. on GOV. & F.

Apr 14, 2022

Senate

Set for hearing April 20.

Apr 13, 2022

Senate

April 21 hearing postponed by committee.

Apr 05, 2022

Senate

Set for hearing April 21.

Mar 17, 2022

Senate

Referred to Com. on GOV. & F.

  • Referral-Committee
Com. on GOV. & F.

Feb 22, 2022

Senate

(Corrected March 2.)

Senate

From printer.

Feb 18, 2022

Senate

Article IV Section 8(a) of the Constitution and Joint Rule 55 dispensed with February 7, 2022, suspending the 30 calendar day requirement.

Senate

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

Bill Text

Bill Text Versions Format
SB1374 HTML
02/18/22 - Introduced PDF
04/18/22 - Amended Senate PDF
05/19/22 - Amended Senate PDF

Related Documents

Document Format
04/18/22- Senate Governance and Finance PDF
04/29/22- Senate Appropriations PDF
05/19/22- Senate Appropriations PDF
05/23/22- Sen. Floor Analyses PDF
06/17/22- Assembly Revenue and Taxation PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.

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