Bill Text: CA AB1944 | 2015-2016 | Regular Session | Amended

California Assembly Bill 1944 (Prior Session Legislation)

CA State Legislature page for AB1944

Bill Title: Personal Income Tax Law: gross income exclusion: Olympic and Paralympic Games.

Sponsorship: Moderate Partisan Bill (Republican 9-1)

Status: (Failed) 2016-11-30 - From Senate committee without further action. [AB1944 Detail]

Download: California-2015-AB1944-Amended.html

BILL NUMBER: AB 1944	AMENDED
	BILL TEXT

	AMENDED IN SENATE  JUNE 13, 2016
	AMENDED IN ASSEMBLY  MAY 16, 2016

INTRODUCED BY   Assembly Member Jones
    (   Coauthors:   Assembly Members 
 Travis Allen,   Dababneh,   Harper,  
Lackey,   Mathis,   and Steinorth   )

    (   Coauthors:   Senators   Bates,
  Berryhill,   and Huff   ) 

                        FEBRUARY 12, 2016

   An act to add and repeal Section 17132.10 of the Revenue and
Taxation Code, relating to taxation, to take effect immediately, tax
levy.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1944, as amended, Jones. Personal Income Tax Law: gross income
exclusion: Olympic and Paralympic Games.
   The Personal Income Tax Law provides for various exclusions from
gross income, including a reward from a crime hotline.
   This bill, for taxable years beginning on or after January 1,
2016, and before January 1, 2021, also would exclude from gross
income the value of any medal given by the International Olympic 
Committee or the International Paralympic  Committee, and any
prize money or honoraria received from the United States Olympic
Committee, on account of either the Olympic Games or the Paralympic
Games.
    This bill would take effect immediately as a tax levy.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


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

  SECTION 1.  Section 17132.10 is added to the Revenue and Taxation
Code, to read:
   17132.10.  (a) For taxable years beginning on or after January 1,
2016, and before January 1, 2021, gross income shall not include the
value of any medal given by the International Olympic  Committee
or the International Paralympic  Committee, and any prize money
or honoraria received from the United States Olympic Committee, on
account of the Olympic Games or the Paralympic Games.
   (b) This section shall remain in effect only until December 1,
2021, and as of that date is repealed.
  SEC. 2.   This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.