AB 3057: Corporation taxes: exempt organizations: mutual ditch or irrigation companies.

Session Year: 2017-2018
House: Assembly

Version:

The Corporation Tax Law, in modified conformity with federal income tax laws, exempts various types of organizations from taxes imposed by that law.

This bill, in further conformity with federal income tax laws, for taxable years beginning on or after January 1, 2018, would exempt from the taxes imposed by the Corporation Tax Law a mutual ditch or irrigation company, as provided. This bill would make additional conforming changes.

This bill would also take effect immediately as a tax levy.

Existing law prohibits a provision in a settlement agreement that prevents the disclosure of factual information related to the action in a civil action with a factual foundation establishing a cause of action for civil damages for certain enumerated sexual offenses. Existing law prohibits a court from entering an order in any of these types of civil actions that restricts disclosure of this information, as specified, and it makes a provision in a settlement agreement that prevents the disclosure of factual information related to the action, entered into on or after January 1, 2017, void as a matter of law and against public policy.This bill would expand this prohibition to cover a settlement agreement in an action with a factual foundation establishing a cause of action for sexual abuse or harassment.

Discussed in Hearing

Assembly Standing Committee on Revenue and Taxation

3MIN

May 7, 2018

Assembly Standing Committee on Revenue and Taxation

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Bill Author

Sharon Quirk-Silva

AB 3057: Corporation taxes: exempt organizations: mutual ditch or irrigation companies.

Assembly Standing Committee on Revenue and Taxation

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