Loading chat...
CA AB877
Bill
Status
Passed
9/29/2014
Primary Sponsor
Raul Bocanegra
Click for details
AI Summary
AB 877 Summary
-
Denies deductions for fines or penalties paid by owners of professional sports franchises when those fines or penalties are assessed by the professional sports league for taxable years beginning January 1, 2014 and later
-
Applies the deduction denial to both Personal Income Tax Law and Corporation Tax Law
-
Requires a 2/3 vote of both legislative houses because it results in higher taxes under California Constitution Article XIII A
-
Takes effect immediately as a tax levy upon approval by the Governor on September 29, 2014
Legislative Description
Income and Corporation taxes: denial of deduction: owner fine or penalty.
Last Action
Chaptered by Secretary of State - Chapter 792, Statutes of 2014.
9/29/2014
Committee Referrals
Revenue and Taxation8/14/2014
Appropriations6/11/2014
Governance and Finance5/15/2014
Rules5/12/2014
Elections and Constitutional Amendments2/6/2014
Rules1/27/2014
Elections and Redistricting3/7/2013
Full Bill Text
No bill text available