BILL NUMBER: SB 358AMENDED BILL TEXT AMENDED IN SENATE APRIL 26, 2011 INTRODUCED BY Senator Cannella ( Coauthors: Senators Fuller and Rubio ) ( Coauthor: Assembly Member Olsen ) FEBRUARY 15, 2011 An act to add Sections 17158 and 24316 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGEST SB 358, as amended, Cannella. Income tax: gross income: exclusion: air quality funds. The Personal Income Tax Law and the Corporation Tax Law define gross income as all income from whatever source derived, unless specifically excluded. This bill would exclude from gross income any amount provided to a person by the State Air Resources Board , an air pollution control district, or an air quality management district for the purpose of air pollution reduction. 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 17158 is added to the Revenue and Taxation Code, to read: 17158. Gross income shall not include any amount provided by the State Air Resources Board , an air pollution control district, or an air quality management district to any person for the purpose of air pollution reduction. SEC. 2. Section 24316 is added to the Revenue and Taxation Code, to read: 24316. Gross income shall not include any amount provided by the State Air Resources Board , air pollution control districts, and air quality management districts to any person for the purpose of air pollution reduction. SEC. 3. This act provides for a tax levy within the meaning of Article IV of the Constitution and shall go into immediate effect.