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CA AJR12

Joint Resolution

Official Source

Status

Passed

8/23/2010

Primary Sponsor

Marty Block

Click for details

Origin

State Assembly

2009-2010 Session

AI Summary

  • Requests President and Congress to enact legislation closing corporate federal tax loopholes that allow income sheltering in offshore tax haven countries
  • Calls for promoting transparency, cooperation, and tax compliance instead of permitting offshore tax avoidance strategies
  • Cites California Franchise Tax Board estimate of approximately $130 million in annual state revenue losses due to corporations sheltering funds in offshore tax havens
  • Notes that the U.S. Treasury estimates offshore tax abuses cost the federal government approximately $100 billion in annual revenue
  • Directs California's Chief Clerk to transmit the resolution to the President, Vice President, House Speaker, Senate Majority Leader, and all California members of Congress

Legislative Description

Offshore tax haven jurisdictions.

Last Action

Chaptered by Secretary of State - Res. Chapter 101, Statutes of 2010.

8/23/2010

Committee Referrals

Revenue and Taxation8/19/2009
Rules7/13/2009
Revenue and Taxation6/8/2009
Rules6/1/2009
Veterans Affairs4/13/2009

Full Bill Text

No bill text available