Bill Text: CA SB610 | 2021-2022 | Regular Session | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Personal income tax: credit: virtual learning costs: dependent of the taxpayer.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Failed) 2022-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB610 Detail]
Download: California-2021-SB610-Introduced.html
Bill Title: Personal income tax: credit: virtual learning costs: dependent of the taxpayer.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Failed) 2022-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB610 Detail]
Download: California-2021-SB610-Introduced.html
CALIFORNIA LEGISLATURE—
2021–2022 REGULAR SESSION
Senate Bill
No. 610
Introduced by Senator Grove (Coauthor: Senator Ochoa Bogh) |
February 18, 2021 |
An act to add Section 17055.1 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
SB 610, as introduced, Grove.
Personal income tax: credit: virtual learning costs: dependent of the taxpayer.
The Personal Income Tax Law allows various credits against the taxes imposed by that law. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.
This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2021, in an amount equal to the amount paid or incurred by a taxpayer during the taxable year for qualified costs, as defined, related to virtual learning for a qualified dependent, as defined, not to exceed $2,250. This bill would also state the intent of the Legislature to comply with the additional information requirement for any bill authorizing a new income tax expenditure.
This bill would take effect immediately as a tax levy.
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.
Section 17055.1 is added to the Revenue and Taxation Code, to read:17055.1.
(a) For each taxable year beginning on or after January 1, 2021, there shall be allowed as a credit against the “net tax,” as defined in Section 17039, an amount equal to the amount paid or incurred by a taxpayer during the taxable year for qualified costs related to virtual learning for a qualified dependent, not to exceed two thousand two hundred fifty dollars ($2,250).(b) For purposes of this section, both of the following shall apply:
(1) “Qualified costs” means all of the following:
(A) Tutoring services.
(B) Special needs services.
(C) Books and supplies.
(D) Computer equipment, including related software, services, and other equipment.
(2) “Qualified dependent” means a dependent of the taxpayer who is an elementary or secondary school student.
(c) In the case where the credit allowed by this section exceeds the “net tax,” the excess may be carried over to reduce the “net tax” in the following taxable year, and succeeding years if necessary, until the credit is exhausted.