Bill Text: CA AB524 | 2017-2018 | Regular Session | Amended
Bill Title: Public utilities: fines and settlements: 2015 Butte Fire.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Vetoed) 2018-01-12 - Stricken from file. [AB524 Detail]
Download: California-2017-AB524-Amended.html
Amended
IN
Assembly
May 10, 2017 |
Amended
IN
Assembly
April 18, 2017 |
Assembly Bill | No. 524 |
Introduced by Assembly Member Bigelow (Principal coauthor: Senator Berryhill) |
February 13, 2017 |
LEGISLATIVE COUNSEL'S DIGEST
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions in computing the income that is subject to the taxes imposed by that law, including miscellaneous itemized deductions that are allowed only to the extent that the aggregate amount of those deductions exceeds 2% of adjusted gross income.
This bill, upon appropriation of specified funds by the Legislature, for taxable years beginning on or after January 1, 2018, and before January 1, 2023, would allow a deduction for expenses paid or incurred by a taxpayer in the taxable year in connection with the removal of a dead or dying
tree on real property owned by the taxpayer, as specified.
This bill would take effect immediately as a tax levy.
Digest Key
Vote:Bill Text
The people of the State of California do enact as follows:
SECTION 1.
Moneys resulting from the collection of fines levied on, or settlement with, the Pacific Gas and Electric Company by the Public Utilities Commission for the 2015 Butte Fire in the Counties of Amador and Calaveras, are hereby appropriated to the boards of supervisors of those two counties in proportion to the respective acreage burnt by the 2015 Butte Fire in those counties. The boards of supervisors of those two counties shall expend the moneys, in order of priority, for the following purposes:SEC. 2.
This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the California Constitution and shall go into immediate effect. The facts constituting the necessity are:(a)For each taxable year beginning on or after January 1, 2018, and before January 1, 2023, there shall be allowed as a deduction an amount equal to the qualified tree removal expenses paid or incurred by a taxpayer during the taxable year.
(b)For purposes of this section, “qualified tree removal expenses” means expenses paid or incurred in connection with the removal of a dead or dying tree on real property owned by the taxpayer or by a person hired by the taxpayer.
(c)This section shall become operative on the effective date of any budget measure specifically appropriating funds to the Franchise Tax Board for its costs of administering this section.
(d)This section shall remain in effect only until December 1, 2023, and as of that date is repealed.
This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.