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CA SB1335

Bill

Official Source

Status

Passed

9/29/2014

Primary Sponsor

Mark Leno

Click for details

Origin

Senate

2013-2014 Session

AI Summary

  • Requires any bill introduced on or after January 1, 2015 that authorizes a new personal income or corporation tax credit to include specific goals, purposes, and objectives the credit will achieve
  • Mandates detailed performance indicators and data collection requirements to measure whether tax credits are meeting their stated goals, with specific baseline measurements and annual reporting
  • Specifies that taxpayers, state agencies, or other entities must collect and remit required data to enable legislative evaluation of tax credit effectiveness
  • Makes taxpayer information collected under these requirements subject to existing restrictions on the collection and use of taxpayer information
  • Applies these transparency and accountability standards to tax credits going forward, treating tax preferences with the same level of review as direct spending programs

Legislative Description

Income and corporation taxes: credits: information.

Last Action

Chaptered by Secretary of State. Chapter 845, Statutes of 2014.

9/29/2014

Committee Referrals

Appropriations7/1/2014
Revenue and Taxation5/23/2014
Governance and Finance4/10/2014
Rules2/21/2014

Full Bill Text

No bill text available