BILL NUMBER: AB 902INTRODUCED BILL TEXT INTRODUCED BY Committee on Housing and Community Development (Mendoza (Chair), Harkey (Vice Chair), De La Torre, Eng, Fletcher, Ma, and Saldana) FEBRUARY 26, 2009 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGEST AB 902, as introduced, Committee on Housing and Community Development. Personal income tax: credits: foreclosed homes. The Personal Income Tax Law authorizes various credits against the taxes imposed by that law. This bill would state the intent of the Legislature to enact legislation authorizing a credit against those taxes for individuals who purchase a foreclosed home. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. It is the intent of the Legislature to enact legislation authorizing a credit against the taxes imposed by the Personal Income Tax Law for individuals who purchase a foreclosed home.