CA SB1395

Requires the Franchise Tax Board to provide annual reports to the Legislature beginning November 1, 2019, and each year thereafter, detailing total tax credits allowed under Personal Income Tax Law and Corporation Tax Law for the previous taxable year.

Credits to be reported include research and development, qualified motion pictures, low-income housing, GO-Biz California Competes Credit, and qualified wages for qualified employees.

Requires credit totals to be aggregated by lines of business using the North American Industry Classification System (2012 edition).

Reports must comply with Section 9795 of the Government Code.