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CA AB2434

Bill

Official Source

Status

Passed

9/28/2014

Primary Sponsor

Jimmy Gomez

Click for details

Origin

State Assembly

2013-2014 Session

AI Summary

  • Excludes from gross income any rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program for taxable years beginning January 1, 2014 through December 31, 2018.

  • Applies the exclusion to both Personal Income Tax Law (Section 17138.2) and Corporation Tax Law (Section 24308.2).

  • Automatically repeals both exclusion provisions on December 1, 2019.

  • Takes effect immediately as a tax levy.

Legislative Description

Income taxes: exclusion.

Last Action

Chaptered by Secretary of State - Chapter 738, Statutes of 2014.

9/28/2014

Committee Referrals

Appropriations6/25/2014
Governance and Finance6/5/2014
Rules5/27/2014
Appropriations5/15/2014
Revenue and Taxation3/10/2014

Full Bill Text

No bill text available