Bill Text: CA SB468 | 2019-2020 | Regular Session | Amended
Bill Title: Taxation: tax expenditures: California Tax Expenditure Review Board.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Vetoed) 2020-01-13 - Veto sustained. [SB468 Detail]
Download: California-2019-SB468-Amended.html
Amended
IN
Assembly
July 11, 2019 |
Amended
IN
Senate
May 07, 2019 |
Amended
IN
Senate
April 25, 2019 |
Amended
IN
Senate
April 22, 2019 |
Amended
IN
Senate
March 25, 2019 |
Introduced by Senator Jackson (Coauthor: Assembly Member Quirk) |
February 21, 2019 |
LEGISLATIVE COUNSEL'S DIGEST
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
The Legislature finds and declares all of the following:SEC. 2.
Section 42 is added to the Revenue and Taxation Code, to read:42.
(a) There is hereby established in state government the California Tax Expenditure Review Board as an independent advisory body to comprehensively assess major tax expenditures and make recommendations to the Legislature.SEC. 3.
Section 43 is added to the Revenue and Taxation Code, to read:(a)By October 1, 2020, and each October 1 thereafter, the California Tax Expenditure Review Board shall hold an open and public meeting for the purposes of considering information provided by the public to determine the schedule for comprehensive assessment of major tax expenditures to be conducted by the Legislative Analyst’s Office. The board shall determine the schedule upon completion of that meeting.
(b)By January 31, 2021, and each January 31 thereafter, the board shall meet to determine the schedule for comprehensive assessments of major tax expenditures for that calendar year. The board shall consider the following criteria when determining the schedule:
(1)General Fund
impact.
(2)The board’s assessment of whether modification to or repeal of the major tax expenditure would provide the most positive impacts for the General Fund with the least negative economic, social, or environmental impacts.
(3)The ability for the Legislative Analyst’s Office to complete each comprehensive assessment of the major tax expenditure in a timely fashion.
(c)The board shall set a deadline date as part of determining the schedule for the Legislative Analyst’s Office to complete its comprehensive assessment of the major tax expenditure or expenditures on a regular schedule. The board can vote to adjust the deadline date for reasonable cause.
(d)The Legislative Analyst’s Office shall complete its comprehensive assessment of the major tax
expenditure, and provide it to the board by the deadline date specified in the schedule. Any other state agency shall assist the Legislative Analyst’s Office with completing its comprehensive assessment of the major tax expenditure to the maximum degree practicable.
(e)The board shall determine the scope of each comprehensive assessment, which shall include, but is not limited to, the following, when possible:
43.
(a) (1) The Legislature requests that the Regents of the University of California, through a new or existing research center, perform a comprehensive assessment of major tax expenditures consistent with the terms of this section.
(f)
(g)
(h)
(i)