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CA SBX619

Bill

Status

Introduced

5/26/2010

Primary Sponsor

Dean Florez

Click for details

Origin

Senate

2009-2010 Session

AI Summary

  • Requires the Franchise Tax Board to annually compile information about publicly traded corporations receiving tax credits of $20,000 or more from corporate tax expenditures, beginning with the 2010 taxable year.

  • Mandates disclosure of the corporation's name, mailing address, California corporation number, and the amount of tax credits claimed.

  • Requires the Franchise Tax Board to include compiled information in the California Income Tax Expenditure Report and on the state Reporting Transparency in Government Internet Web site.

  • Specifies data must be organized by credit type and searchable by corporation name, corporation number, expenditure type, and keyword, with public download capability in Excel or comparable spreadsheet format.

  • Provides definitions of "corporate tax expenditure" (credits under Part 11 or otherwise available to corporations) and "publicly traded corporation" (corporations with securities listed on national or foreign exchanges or regularly quoted by broker-dealers).

Legislative Description

Franchise Tax Board: tax expenditure reporting.

Last Action

Set for hearing August 12.

8/10/2010

Committee Referrals

Appropriations6/29/2010
Revenue and Taxation5/26/2010

Full Bill Text

No bill text available