SB 935: Personal Income Tax Law: Corporation Tax Law: credits: educator housing.

Session Year: 2023-2024
House: Senate

Current Status:

Failed

(2024-06-18: June 18 hearing postponed by committee.)

Introduced

First Committee Review

First Chamber

Second Committee Review

Second Chamber

Enacted

Version:

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including, in modified conformity with federal tax laws, a credit to qualified low-income housing projects.

This bill would, for taxable years beginning on or after January 1, 2025, and before January 1, 2030, allow a credit against those taxes in an amount equal to 20% of the costs of development for a qualified school staff housing project, as defined, to a qualified taxpayer.

Existing law requires any bill authorizing a new tax expenditure, as defined to include tax credits, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements.

This bill would include findings and reporting requirements in compliance with this requirement.

This bill would take effect immediately as a tax levy.

The California Constitution allows hearsay testimony at preliminary hearings as prescribed by the Legislature. Existing law authorizes a law enforcement officer or honorably retired law enforcement officer with either 5 years of law enforcement experience or training in the investigation and reporting of cases and testifying at preliminary hearings to testify to the out-of-court statements of declarants offered for the truth of the matter asserted.This bill would additionally allow a honorably separated law enforcement officer with that experience or training to testify to the out-of-court statements of declarants offered for the truth of the matter asserted.

Discussed in Hearing