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| 1 | + | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 624Introduced by Assembly Member Maienschein(Coauthors: Assembly Members Cunningham, Lackey, Mathis, and Waldron)(Coauthor: Senator Anderson)February 14, 2017 An act to add Sections 17053.45 and 23645 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTAB 624, as introduced, Maienschein. Income taxes: credit: robotics club donation.The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws.This bill, under both laws, would allow as a credit against those taxes an amount equal to 50% of the qualified amount paid or incurred, not to exceed $10,000, to a robotics club at a school in California during the taxable year.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 17053.45 is added to the Revenue and Taxation Code, to read:17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a).SEC. 2. Section 23645 is added to the Revenue and Taxation Code, to read:23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a).SEC. 3. It is the intent of the Legislature to comply with Section 41 of the Revenue and Taxation Code.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. | |
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| 3 | - | ||
| 3 | + | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 624Introduced by Assembly Member Maienschein(Coauthors: Assembly Members Cunningham, Lackey, Mathis, and Waldron)(Coauthor: Senator Anderson)February 14, 2017 An act to add Sections 17053.45 and 23645 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTAB 624, as introduced, Maienschein. Income taxes: credit: robotics club donation.The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws.This bill, under both laws, would allow as a credit against those taxes an amount equal to 50% of the qualified amount paid or incurred, not to exceed $10,000, to a robotics club at a school in California during the taxable year.This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO | |
| 4 | 4 | ||
| 5 | - | Amended IN Assembly April 25, 2017 | |
| 6 | 5 | ||
| 7 | - | Amended IN Assembly April 25, 2017 | |
| 6 | + | ||
| 7 | + | ||
| 8 | 8 | ||
| 9 | 9 | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION | |
| 10 | 10 | ||
| 11 | 11 | Assembly Bill No. 624 | |
| 12 | 12 | ||
| 13 | - | Introduced by Assembly Member Maienschein(Coauthors: Assembly Members Cunningham, Lackey, Mathis, | |
| 13 | + | Introduced by Assembly Member Maienschein(Coauthors: Assembly Members Cunningham, Lackey, Mathis, and Waldron)(Coauthor: Senator Anderson)February 14, 2017 | |
| 14 | 14 | ||
| 15 | - | Introduced by Assembly Member Maienschein(Coauthors: Assembly Members Cunningham, Lackey, Mathis, | |
| 15 | + | Introduced by Assembly Member Maienschein(Coauthors: Assembly Members Cunningham, Lackey, Mathis, and Waldron)(Coauthor: Senator Anderson) | |
| 16 | 16 | February 14, 2017 | |
| 17 | 17 | ||
| 18 | - | An act to add | |
| 18 | + | An act to add Sections 17053.45 and 23645 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. | |
| 19 | 19 | ||
| 20 | 20 | LEGISLATIVE COUNSEL'S DIGEST | |
| 21 | 21 | ||
| 22 | 22 | ## LEGISLATIVE COUNSEL'S DIGEST | |
| 23 | 23 | ||
| 24 | - | AB 624, as | |
| 24 | + | AB 624, as introduced, Maienschein. Income taxes: credit: robotics club donation. | |
| 25 | 25 | ||
| 26 | - | The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws.This bill, under both laws | |
| 26 | + | The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws.This bill, under both laws, would allow as a credit against those taxes an amount equal to 50% of the qualified amount paid or incurred, not to exceed $10,000, to a robotics club at a school in California during the taxable year.This bill would take effect immediately as a tax levy. | |
| 27 | 27 | ||
| 28 | 28 | The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. | |
| 29 | 29 | ||
| 30 | - | This bill, under both laws | |
| 30 | + | This bill, under both laws, would allow as a credit against those taxes an amount equal to 50% of the qualified amount paid or incurred, not to exceed $10,000, to a robotics club at a school in California during the taxable year. | |
| 31 | 31 | ||
| 32 | 32 | This bill would take effect immediately as a tax levy. | |
| 33 | 33 | ||
| 34 | 34 | ## Digest Key | |
| 35 | 35 | ||
| 36 | 36 | ## Bill Text | |
| 37 | 37 | ||
| 38 | - | The people of the State of California do enact as follows:SECTION 1. Section 17053.45 is added to the Revenue and Taxation Code, to read:17053.45. (a) For each taxable year beginning on or after January 1, 2018 | |
| 38 | + | The people of the State of California do enact as follows:SECTION 1. Section 17053.45 is added to the Revenue and Taxation Code, to read:17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a).SEC. 2. Section 23645 is added to the Revenue and Taxation Code, to read:23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a).SEC. 3. It is the intent of the Legislature to comply with Section 41 of the Revenue and Taxation Code.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. | |
| 39 | 39 | ||
| 40 | 40 | The people of the State of California do enact as follows: | |
| 41 | 41 | ||
| 42 | 42 | ## The people of the State of California do enact as follows: | |
| 43 | 43 | ||
| 44 | - | SECTION 1. Section 17053.45 is added to the Revenue and Taxation Code, to read:17053.45. (a) For each taxable year beginning on or after January 1, 2018 | |
| 44 | + | SECTION 1. Section 17053.45 is added to the Revenue and Taxation Code, to read:17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a). | |
| 45 | 45 | ||
| 46 | 46 | SECTION 1. Section 17053.45 is added to the Revenue and Taxation Code, to read: | |
| 47 | 47 | ||
| 48 | 48 | ### SECTION 1. | |
| 49 | 49 | ||
| 50 | - | 17053.45. (a) For each taxable year beginning on or after January 1, 2018 | |
| 50 | + | 17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a). | |
| 51 | 51 | ||
| 52 | - | 17053.45. (a) For each taxable year beginning on or after January 1, 2018 | |
| 52 | + | 17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a). | |
| 53 | 53 | ||
| 54 | - | 17053.45. (a) For each taxable year beginning on or after January 1, 2018 | |
| 54 | + | 17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a). | |
| 55 | 55 | ||
| 56 | 56 | ||
| 57 | 57 | ||
| 58 | - | 17053.45. (a) For each taxable year beginning on or after January 1, 2018 | |
| 58 | + | 17053.45. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year. | |
| 59 | 59 | ||
| 60 | 60 | (b) For purposes of this section: | |
| 61 | 61 | ||
| 62 | 62 | (1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment. | |
| 63 | 63 | ||
| 64 | - | (2) Robotics club means a | |
| 64 | + | (2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California. | |
| 65 | 65 | ||
| 66 | - | (c) The | |
| 66 | + | (c) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted. | |
| 67 | 67 | ||
| 68 | - | ( | |
| 68 | + | (d) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a). | |
| 69 | 69 | ||
| 70 | - | (2) The unused allocation credit amount, if any, for the preceding calendar year. | |
| 71 | - | ||
| 72 | - | (d) For the purposes of this section, the Franchise Tax Board shall do both of the following: | |
| 73 | - | ||
| 74 | - | (1) On or after January 1, 2018, and before January 1, 2023, allocate and certify tax credits to taxpayers on a first-come-first-served basis by determining and designating applicants who meet the requirements of this section. | |
| 75 | - | ||
| 76 | - | (2) Once the credits allocated exceed the limit established in subdivision (c), the Franchise Tax Board shall cease to allocate and certify tax credits to taxpayers. | |
| 77 | - | ||
| 78 | - | (c) | |
| 79 | - | ||
| 80 | - | ||
| 81 | - | ||
| 82 | - | (e) In the case where the credit allowed by this section exceeds the net tax, the excess may be carried over to reduce the net tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted. | |
| 83 | - | ||
| 84 | - | (d) | |
| 85 | - | ||
| 86 | - | ||
| 87 | - | ||
| 88 | - | (f) A deduction shall not be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a). | |
| 89 | - | ||
| 90 | - | (g) This section shall remain in effect only until December 1, 2023, and as of that date is repealed. | |
| 91 | - | ||
| 92 | - | SEC. 2. Section 23645 is added to the Revenue and Taxation Code, to read:23645. (a) For each taxable year beginning on or after January 1, 2018, and before January 1, 2023, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a STEM club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter charter, or private school in California. California that competes in robotics competitions.(c) The aggregate amount of credits that may be allocated pursuant to this section and Section 17053.45 shall be an amount equal to the sum of the following:(1) One million dollars ($1,000,000) in credits for each calendar year.(2) The unused allocation credit amount, if any, for the preceding calendar year.(d) For the purposes of this section, the Franchise Tax Board shall do both of the following:(1) On or after January 1, 2018, and before January 1, 2023, allocate and certify tax credits to taxpayers on a first-come-first-served basis by determining and designating applicants who meet the requirements of this section.(2) Once the credits allocated exceed the limit established in subdivision (c), the Franchise Tax Board shall cease to allocate and certify tax credits to taxpayers.(c)(e) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d)(f) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a).(g) This section shall remain in effect only until December 1, 2023, and as of that date is repealed. | |
| 70 | + | SEC. 2. Section 23645 is added to the Revenue and Taxation Code, to read:23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a). | |
| 93 | 71 | ||
| 94 | 72 | SEC. 2. Section 23645 is added to the Revenue and Taxation Code, to read: | |
| 95 | 73 | ||
| 96 | 74 | ### SEC. 2. | |
| 97 | 75 | ||
| 98 | - | 23645. (a) For each taxable year beginning on or after January 1, 2018 | |
| 76 | + | 23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a). | |
| 99 | 77 | ||
| 100 | - | 23645. (a) For each taxable year beginning on or after January 1, 2018 | |
| 78 | + | 23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a). | |
| 101 | 79 | ||
| 102 | - | 23645. (a) For each taxable year beginning on or after January 1, 2018 | |
| 80 | + | 23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year.(b) For purposes of this section:(1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment.(2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California.(c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted.(d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a). | |
| 103 | 81 | ||
| 104 | 82 | ||
| 105 | 83 | ||
| 106 | - | 23645. (a) For each taxable year beginning on or after January 1, 2018 | |
| 84 | + | 23645. (a) For each taxable year beginning on or after January 1, 2018, there shall be allowed as a credit against the tax, as defined in Section 23036, an amount equal to 50 percent of the qualified amount paid or incurred, not to exceed ten thousand dollars ($10,000), to a robotics club during the taxable year. | |
| 107 | 85 | ||
| 108 | 86 | (b) For purposes of this section: | |
| 109 | 87 | ||
| 110 | 88 | (1) Qualified amount means the amount paid or incurred for robotics club competition entry fees and associated travel and amounts for the acquisition of materials and equipment. | |
| 111 | 89 | ||
| 112 | - | (2) Robotics club means a | |
| 90 | + | (2) Robotics club means a club at a kindergarten or any of grades 1 to 12, inclusive, at a public, charter or private school in California. | |
| 113 | 91 | ||
| 114 | - | (c) The | |
| 92 | + | (c) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted. | |
| 115 | 93 | ||
| 116 | - | (1) One million dollars ($1,000,000) in credits for each calendar year. | |
| 117 | - | ||
| 118 | - | (2) The unused allocation credit amount, if any, for the preceding calendar year. | |
| 119 | - | ||
| 120 | - | (d) For the purposes of this section, the Franchise Tax Board shall do both of the following: | |
| 121 | - | ||
| 122 | - | (1) On or after January 1, 2018, and before January 1, 2023, allocate and certify tax credits to taxpayers on a first-come-first-served basis by determining and designating applicants who meet the requirements of this section. | |
| 123 | - | ||
| 124 | - | (2) Once the credits allocated exceed the limit established in subdivision (c), the Franchise Tax Board shall cease to allocate and certify tax credits to taxpayers. | |
| 125 | - | ||
| 126 | - | (c) | |
| 127 | - | ||
| 128 | - | ||
| 129 | - | ||
| 130 | - | (e) In the case where the credit allowed by this section exceeds the tax, the excess may be carried over to reduce the tax in the following taxable year, and succeeding years if necessary, until the credit is exhausted. | |
| 131 | - | ||
| 132 | - | (d) | |
| 133 | - | ||
| 134 | - | ||
| 135 | - | ||
| 136 | - | (f) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a). | |
| 137 | - | ||
| 138 | - | (g) This section shall remain in effect only until December 1, 2023, and as of that date is repealed. | |
| 94 | + | (d) A deduction shall not be allowed under Article 1 (commencing with Section 24341) of Chapter 7 of Part 11 for any contribution made pursuant to subdivision (a). | |
| 139 | 95 | ||
| 140 | 96 | SEC. 3. It is the intent of the Legislature to comply with Section 41 of the Revenue and Taxation Code. | |
| 141 | 97 | ||
| 142 | 98 | SEC. 3. It is the intent of the Legislature to comply with Section 41 of the Revenue and Taxation Code. | |
| 143 | 99 | ||
| 144 | 100 | SEC. 3. It is the intent of the Legislature to comply with Section 41 of the Revenue and Taxation Code. | |
| 145 | 101 | ||
| 146 | 102 | ### SEC. 3. | |
| 147 | 103 | ||
| 148 | 104 | 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. | |
| 149 | 105 | ||
| 150 | 106 | 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. | |
| 151 | 107 | ||
| 152 | 108 | 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. | |
| 153 | 109 | ||
| 154 | 110 | ### SEC. 4. |