Bill Text: CA AB1172 | 2013-2014 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Income taxes: charitable remainder trusts.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2014-08-18 - Read second time. Ordered to third reading. [AB1172 Detail]

Download: California-2013-AB1172-Introduced.html

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BILL NUMBER: AB 1172	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Bocanegra

                        FEBRUARY 22, 2013

   An act to amend Section 17020.3 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1172, as introduced, Bocanegra. Personal income tax.
   The Personal Income Tax Law conforms, with modification, to the
federal definition of exchanged basis property.
   This bill would make a technical, nonsubstantive change to that
provision.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 17020.3 of the Revenue and Taxation Code is
amended to read:
   17020.3.  For purposes of this part, the term "exchanged basis
property" has the same meaning given  to  that term by
Section 7701(a)(44) of the Internal Revenue Code, except that
reference to Subtitle A shall instead be a reference to this part.