Bill Text: CA AB533 | 2019-2020 | Regular Session | Introduced

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

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Bill Title: Income taxes: exclusion: turf removal water conservation program.

Sponsorship: Partisan Bill (Democrat 3)

Status: (Failed) 2020-02-03 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB533 Detail]

Download: California-2019-AB533-Introduced.html

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CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 533

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Introduced by Assembly Member Holden
(Principal coauthor: Senator Wiener)
(Coauthor: Assembly Member Friedman)

February 13, 2019

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An act to add Sections 17139.9 and 24308.9 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.

LEGISLATIVE COUNSEL'S DIGEST

AB 533, as introduced, Holden. Income taxes: exclusion: water conservation or efficiency programs: water runoff management improvement program.

The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally defines “gross income” as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income.

This bill would provide an exclusion from gross income for any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for any water conservation or efficiency program or water runoff management improvement program, as provided.

This bill would take effect immediately as a tax levy.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 17139.9 is added to the Revenue and Taxation Code, to read:

17139.9.

 (a) Gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for any water conservation or efficiency program the primary purpose of which is to reduce consumption of water or to improve the management of water demand.

(b) Gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for any water runoff management improvement program the primary purpose of which is to reduce the amount or manage the quality of storm water runoff.

SEC. 2.

 Section 24308.9 is added to the Revenue and Taxation Code, to read:

24308.9.

 (a) Gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for any water conservation or efficiency program the primary purpose of which is to reduce consumption of water or to improve the management of water demand.

(b) Gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for any water runoff management improvement program the primary purpose of which is to reduce the amount or manage the quality of storm water runoff.

SEC. 3.

 This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.