CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 2414Introduced by Assembly Member ChoiFebruary 14, 2018 An act to add Sections 17053.60 and 23660 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTAB 2414, as introduced, Choi. Income taxes: credits: attic vent closures.The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2018, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to the costs paid or incurred by the qualified taxpayer for that installation. The bill also would include additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 17053.60 is added to the Revenue and Taxation Code, to read:17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs. SEC. 2. Section 23660 is added to the Revenue and Taxation Code, to read:23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs. SEC. 3. For the purposes of complying with Section 41 of the Revenue and Taxation Code, with respect to Sections 17053.60 and 23660 of the Revenue and Taxation Code as added by this act, the Legislature finds and declares as follows:(a) The goal of this bill is to prevent future fires generally and residential fires specifically.(b) The effectiveness of the credits shall be measured by the number of taxpayers claiming the credit.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 2414Introduced by Assembly Member ChoiFebruary 14, 2018 An act to add Sections 17053.60 and 23660 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTAB 2414, as introduced, Choi. Income taxes: credits: attic vent closures.The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2018, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to the costs paid or incurred by the qualified taxpayer for that installation. The bill also would include additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION
Assembly Bill No. 2414
Introduced by Assembly Member ChoiFebruary 14, 2018
Introduced by Assembly Member Choi
February 14, 2018
An act to add Sections 17053.60 and 23660 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 2414, as introduced, Choi. Income taxes: credits: attic vent closures.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2018, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to the costs paid or incurred by the qualified taxpayer for that installation. The bill also would include additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements.
This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2018, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to the costs paid or incurred by the qualified taxpayer for that installation. The bill also would include additional information required for any bill authorizing a new income tax credit.
This bill would take effect immediately as a tax levy.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 17053.60 is added to the Revenue and Taxation Code, to read:17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs. SEC. 2. Section 23660 is added to the Revenue and Taxation Code, to read:23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs. SEC. 3. For the purposes of complying with Section 41 of the Revenue and Taxation Code, with respect to Sections 17053.60 and 23660 of the Revenue and Taxation Code as added by this act, the Legislature finds and declares as follows:(a) The goal of this bill is to prevent future fires generally and residential fires specifically.(b) The effectiveness of the credits shall be measured by the number of taxpayers claiming the credit.SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 17053.60 is added to the Revenue and Taxation Code, to read:17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
SECTION 1. Section 17053.60 is added to the Revenue and Taxation Code, to read:
### SECTION 1.
17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
17053.60. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.
(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
SEC. 2. Section 23660 is added to the Revenue and Taxation Code, to read:23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
SEC. 2. Section 23660 is added to the Revenue and Taxation Code, to read:
### SEC. 2.
23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
23660. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer that installs an attic vent closure in a residential property in an amount equal to costs paid or incurred by the qualified taxpayer during the taxable year for the installation.
(b) For purposes of this section, qualified taxpayer means an owner of residential property located in this state. A taxpayer who owns a proportional share of a residential property located in this state may claim the credit allowed by this section based upon the taxpayers share of the qualified costs.
SEC. 3. For the purposes of complying with Section 41 of the Revenue and Taxation Code, with respect to Sections 17053.60 and 23660 of the Revenue and Taxation Code as added by this act, the Legislature finds and declares as follows:(a) The goal of this bill is to prevent future fires generally and residential fires specifically.(b) The effectiveness of the credits shall be measured by the number of taxpayers claiming the credit.
SEC. 3. For the purposes of complying with Section 41 of the Revenue and Taxation Code, with respect to Sections 17053.60 and 23660 of the Revenue and Taxation Code as added by this act, the Legislature finds and declares as follows:(a) The goal of this bill is to prevent future fires generally and residential fires specifically.(b) The effectiveness of the credits shall be measured by the number of taxpayers claiming the credit.
SEC. 3. For the purposes of complying with Section 41 of the Revenue and Taxation Code, with respect to Sections 17053.60 and 23660 of the Revenue and Taxation Code as added by this act, the Legislature finds and declares as follows:
### SEC. 3.
(a) The goal of this bill is to prevent future fires generally and residential fires specifically.
(b) The effectiveness of the credits shall be measured by the number of taxpayers claiming the credit.
SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 4. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
### SEC. 4.