BILL NUMBER: AB 205INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Hagman JANUARY 27, 2011 An act to add Section 17053.44 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGEST AB 205, as introduced, Hagman. Income taxes: credit: vehicle registration. The Personal Income Tax Law authorizes various credits against the taxes imposed by that law. This bill would, for taxable years beginning on or after Janaury 1, 2011, authorize a credit under the Personal Income Tax Law for qualified costs, as defined, paid by a taxpayer for the registration of a qualified vehicle, as provided. This bill would take effect immediately as a tax levy. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 17053.44 is added to the Revenue and Taxation Code, to read: 17053.44. (a) For each taxable year beginning on or after January 1, 2011, there shall be allowed as a credit against the "net tax," as defined in Section 17039, an amount equal to the qualified costs paid by a taxpayer for the registration of a qualified vehicle. (b) For purposes of this section: (1) "Qualifed costs" means the registration fees for a qualified vehicle pursuant to Article 2 (commencing with Section 9250) of Chapter 6 of Division 3 of the Vehicle Code, paid by a qualified taxpayer during the taxable year. (2) "Qualified vehicle" means a vehicle for which a taxpayer has paid qualified costs previous to the purchase by the taxpayer of a new vehicle for which the taxpayer has also paid registration fees pursuant to Article 2 (commencing with Section 9250) of Chapter 6 of Division 3 of the Vehicle Code during the same calendar year. SEC. 2. This act provides for a tax levy within the meaning of Article IV of the Constitution and shall go into immediate effect.