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CA AB2528
Bill
Status
6/1/2010
Primary Sponsor
Anthony Adams
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AI Summary
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Excludes vouchers and payments under the federal Consumer Assistance to Recycle and Save Act of 2009 from gross income calculations for personal income tax purposes under Revenue and Taxation Code Section 17071.5
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Excludes the same vouchers and payments from gross income calculations for corporation tax purposes under Revenue and Taxation Code Section 24304
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Applies the exclusion regardless of taxable year for vehicle purchasers who received federal "cash for clunkers" vouchers or payments under Section 1302(a)(3) of the federal act
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Legislature declares the exclusion serves the public purpose of providing equitable tax treatment and furthering the objectives of the federal Consumer Assistance to Recycle and Save Act of 2009
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Takes effect immediately as a tax levy measure
Legislative Description
Income and corporation taxes: gross income: exclusion:
Last Action
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on REV. & TAX.
6/24/2010