Bill Text: CA AB2564 | 2009-2010 | Regular Session | Enrolled

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Bill Title: State Budget: tax expenditures.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Vetoed) 2010-09-29 - Vetoed by Governor. [AB2564 Detail]

Download: California-2009-AB2564-Enrolled.html

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BILL NUMBER: AB 2564	ENROLLED
	BILL TEXT

	PASSED THE SENATE  AUGUST 9, 2010
	PASSED THE ASSEMBLY  AUGUST 16, 2010
	AMENDED IN SENATE  JUNE 15, 2010
	AMENDED IN ASSEMBLY  APRIL 20, 2010
	AMENDED IN ASSEMBLY  MARCH 25, 2010

INTRODUCED BY   Assembly Member Swanson

                        FEBRUARY 19, 2010

   An act to amend Section 13305 of the Government Code, relating to
state finance.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2564, Swanson. State Budget: tax expenditures.
   Existing law requires the Department of Finance to provide an
annual report to the Legislature on tax expenditures, as specified,
no later than September 15 of each year.
   This bill would require the Department of Finance to provide the
report described above on February 1 of each year.


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

  SECTION 1.  Section 13305 of the Government Code is amended to
read:
   13305.  (a) The department shall provide an annual report to the
Legislature on tax expenditures by no later than February 1 of each
year. The report shall include each of the following:
   (1) A comprehensive list of tax expenditures exceeding five
million dollars ($5,000,000) in annual cost.
   (2) The statutory authority for each credit, deduction, exclusion,
exemption, or any other tax benefit as provided by state law.
   (3) A description of the legislative intent for each tax
expenditure, if the act adding or amending the expenditure contains
legislative findings and declarations of that intent, or that
legislative intent is otherwise expressed or specified by that act.
   (4) The sunset date of each credit, deduction, exclusion,
exemption, or any other tax benefit as provided by state law, if
applicable.
   (5) A brief description of the beneficiaries of the credit,
deduction, exclusion, exemption, or other tax benefit as provided by
state law.
   (6) An estimate or range of estimates for the state and local
revenue loss for the current fiscal year and the two subsequent
fiscal years. For sales and use tax expenditures, this would include
partial year exemptions and all other tax expenditures when the State
Board of Equalization has obtained that information.
   (7) For personal income tax expenditures, the number of taxpayers
affected and returns filed, as applicable, for the most recent tax
year for which full year data is available.
   (8) For corporation tax and sales and use tax expenditures, the
number of returns filed or business entities affected, as applicable,
for the most recent tax year for which full year data is available.
   (9) A listing of any comparable federal tax benefit, if any.
   (10) A description of any tax expenditure evaluation or
compilation of information completed by any state agency since the
last report made under this section.
   (b) For purposes of this section, "tax expenditure" means a
credit, deduction, exclusion, exemption, or any other tax benefit as
provided for by the state.