Bill Text: CA SB924 | 2017-2018 | Regular Session | Amended
Bill Title: Personal income taxes: exclusion: National Guard.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2018-08-16 - August 16 hearing: Held in committee and under submission. [SB924 Detail]
Download: California-2017-SB924-Amended.html
|
Amended
IN
Assembly
June 25, 2018 |
|
Amended
IN
Senate
March 19, 2018 |
CALIFORNIA LEGISLATURE—
2017–2018 REGULAR SESSION
| Senate Bill | No. 924 |
| Introduced by Senator Morrell |
January 23, 2018 |
An act to add and repeal Section 17131.8 to of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
SB 924, as amended, Morrell.
Personal income taxes: exclusion: National Guard.
The Personal Income Tax Law imposes a tax on individual taxpayers measured by the taxpayer’s taxable income for the taxable year, but excludes certain items of income from the computation of tax.
This bill would, for taxable years beginning on or after January 1, 2018, and before January 1, 2028, exclude from gross income, income received by a member of the active militia, as described, when that income is derived from his or her position as a member of the active militia while on active service, as provided.
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 17131.8 is added to the Revenue and Taxation Code, to read:17131.8.
(b) This section shall remain in effect only until December 1, 2028, and as of that date is repealed.
