CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 1670Introduced by Assembly Member GomezFebruary 17, 2017 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGESTAB 1670, as introduced, Gomez. Income taxes: credits: qualified developer: affordable housing.The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill would state the intent of the Legislature to enact legislation that would allow a credit against those taxes for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to enact legislation that would allow a credit against the taxes imposed under the Personal Income Tax Law and Corporation Tax Law for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 1670Introduced by Assembly Member GomezFebruary 17, 2017 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGESTAB 1670, as introduced, Gomez. Income taxes: credits: qualified developer: affordable housing.The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill would state the intent of the Legislature to enact legislation that would allow a credit against those taxes for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION
Assembly Bill No. 1670
Introduced by Assembly Member GomezFebruary 17, 2017
Introduced by Assembly Member Gomez
February 17, 2017
An act relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 1670, as introduced, Gomez. Income taxes: credits: qualified developer: affordable housing.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill would state the intent of the Legislature to enact legislation that would allow a credit against those taxes for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.
This bill would state the intent of the Legislature to enact legislation that would allow a credit against those taxes for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. It is the intent of the Legislature to enact legislation that would allow a credit against the taxes imposed under the Personal Income Tax Law and Corporation Tax Law for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. It is the intent of the Legislature to enact legislation that would allow a credit against the taxes imposed under the Personal Income Tax Law and Corporation Tax Law for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
SECTION 1. It is the intent of the Legislature to enact legislation that would allow a credit against the taxes imposed under the Personal Income Tax Law and Corporation Tax Law for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
SECTION 1. It is the intent of the Legislature to enact legislation that would allow a credit against the taxes imposed under the Personal Income Tax Law and Corporation Tax Law for amounts paid by a taxpayer to an eligible developer for the purpose of supplying affordable housing for low and very low income residents through new construction and home rehabilitation.
### SECTION 1.