Bill Text: CA AB1456 | 2023-2024 | Regular Session | Amended
Bill Title: Sexually violent predators.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Failed) 2024-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB1456 Detail]
Download: California-2023-AB1456-Amended.html
|
Amended
IN
Assembly
August 24, 2023 |
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Amended
IN
Assembly
May 22, 2023 |
|
Amended
IN
Assembly
March 29, 2023 |
| Introduced by Assembly Member Joe Patterson (Principal coauthors: Senators Alvarado-Gil and Niello) |
February 17, 2023 |
LEGISLATIVE COUNSEL'S DIGEST
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.
This bill, for taxable years beginning on or after January 1, 2024, would allow a credit against those taxes to a financial institution whose qualified employee, as defined, provides a qualified guest lecture, as specified, to students enrolled in grade 11 or 12 at a public
school, including a charter school or an alternative school, located in the same city as the financial institution, in an amount equal to $500 per qualified guest lecture during the taxable year, not to exceed $1,000 per taxable year.
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.
The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credit, performance indicators for determining whether the credit meets those goals, purposes, and objectives, and data collection
requirements.
This bill would take effect immediately as a tax levy.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee:Bill Text
The people of the State of California do enact as follows:
SECTION 1.
It is the intent of the Legislature to enact legislation that would prohibit a sexually violent predator from being released as a transient or without a fixed permanent address.(a)For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the “net tax,” as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.
(b)For purposes of this section:
(1)“Qualified employee” means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified
guest lecture.
(2)“Qualified guest lecture” means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.
(3)“Qualified school” means a public school, including a charter school
or an alternative
school, located in the state.
(4)“Qualified students” means students enrolled in grade 11 or 12 at a qualified school.
(5)“Qualified taxpayer” means a financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.
(c)Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.
(d)In the case where the credit allowed by this section exceeds the “net tax,” the excess may be carried over to reduce the “net tax” in the following taxable year, and succeeding seven years, if necessary, until the credit is exhausted.
(e)For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:
(1)The specific goal, purpose, and objective of the credit allowed by
this section and Section 23652.4 is to provide an additional incentive for local financial institutions to educate students within their city on issues relating to financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation.
(2)Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose,
and objective are as follows:
(A)The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.
(B)The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.
(3)The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.
(a)For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the “tax,” as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.
(b)For purposes of this section:
(1)“Qualified employee” means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified
guest lecture.
(2)“Qualified guest lecture” means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.
(3)“Qualified school” means a public school, including a charter school or
an alternative
school, located in the state.
(4)“Qualified students” means students enrolled in grade 11 or 12 at a qualified school.
(5)“Qualified taxpayer” means a financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture
occurred.
(c)Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under
this section.
(d)In the case where the credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” in the following taxable year, and succeeding seven years, if necessary, until the credit is exhausted.
This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
