Amended IN Assembly March 21, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 535Introduced by Assembly Member BroughFebruary 13, 2019 An act to amend Section 17026 of add Section 17056.1 to the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTAB 535, as amended, Brough. Personal income tax. taxes: credit: professional license fees.The Personal Income Tax Law imposes taxes on taxable income, as provided. That law specifies that it applies to the taxable income of taxpayers received or accrued on or after January 1, 1935. allows various credits against the taxes imposed by that law.This bill would make nonsubstantive changes to that provision of the Personal Income Tax Law. allow a credit against those taxes for each taxable year beginning on or after January 1, 2020, in an amount equal to the cost paid or incurred during the taxable year for an initial professional license fee.This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NOYES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 17056.1 is added to the Revenue and Taxation Code, to read:17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology. (2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.(e) It is the intent of the Legislature to comply with Section 41.SEC. 2. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.SECTION 1.Section 17026 of the Revenue and Taxation Code is amended to read:17026.The provisions of this part apply to the taxable income of taxpayers received or accrued on or after January 1, 1935.
Amended IN Assembly March 21, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 535Introduced by Assembly Member BroughFebruary 13, 2019 An act to amend Section 17026 of add Section 17056.1 to the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTAB 535, as amended, Brough. Personal income tax. taxes: credit: professional license fees.The Personal Income Tax Law imposes taxes on taxable income, as provided. That law specifies that it applies to the taxable income of taxpayers received or accrued on or after January 1, 1935. allows various credits against the taxes imposed by that law.This bill would make nonsubstantive changes to that provision of the Personal Income Tax Law. allow a credit against those taxes for each taxable year beginning on or after January 1, 2020, in an amount equal to the cost paid or incurred during the taxable year for an initial professional license fee.This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NOYES Local Program: NO
Amended IN Assembly March 21, 2019
Amended IN Assembly March 21, 2019
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Assembly Bill No. 535
Introduced by Assembly Member BroughFebruary 13, 2019
Introduced by Assembly Member Brough
February 13, 2019
An act to amend Section 17026 of add Section 17056.1 to the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 535, as amended, Brough. Personal income tax. taxes: credit: professional license fees.
The Personal Income Tax Law imposes taxes on taxable income, as provided. That law specifies that it applies to the taxable income of taxpayers received or accrued on or after January 1, 1935. allows various credits against the taxes imposed by that law.This bill would make nonsubstantive changes to that provision of the Personal Income Tax Law. allow a credit against those taxes for each taxable year beginning on or after January 1, 2020, in an amount equal to the cost paid or incurred during the taxable year for an initial professional license fee.This bill would take effect immediately as a tax levy.
The Personal Income Tax Law imposes taxes on taxable income, as provided. That law specifies that it applies to the taxable income of taxpayers received or accrued on or after January 1, 1935. allows various credits against the taxes imposed by that law.
This bill would make nonsubstantive changes to that provision of the Personal Income Tax Law. allow a credit against those taxes for each taxable year beginning on or after January 1, 2020, in an amount equal to the cost paid or incurred during the taxable year for an initial professional license fee.
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 17056.1 is added to the Revenue and Taxation Code, to read:17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology. (2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.(e) It is the intent of the Legislature to comply with Section 41.SEC. 2. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.SECTION 1.Section 17026 of the Revenue and Taxation Code is amended to read:17026.The provisions of this part apply to the taxable income of taxpayers received or accrued on or after January 1, 1935.
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 17056.1 is added to the Revenue and Taxation Code, to read:17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology. (2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.(e) It is the intent of the Legislature to comply with Section 41.
SECTION 1. Section 17056.1 is added to the Revenue and Taxation Code, to read:
### SECTION 1.
17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology. (2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.(e) It is the intent of the Legislature to comply with Section 41.
17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology. (2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.(e) It is the intent of the Legislature to comply with Section 41.
17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology. (2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.(e) It is the intent of the Legislature to comply with Section 41.
17056.1. (a) For taxable years beginning on or after January 1, 2020, there shall be allowed a credit against the net tax, as defined by Section 17039, an amount equal to the costs paid or incurred by a taxpayer for an initial qualified professional license fee.
(b) (1) For purposes of this section, qualified professional license means any license issued by the Bureau of Real Estate Appraisers, Board of Registered Nursing, Board of Behavioral Sciences, Contractors State License Board, or the Board of Psychology.
(2) For purposes of this section, license has the same definition as in Section 23.7 of the Business and Professions Code.
(c) This credit shall be in lieu of any other deduction that the taxpayer may otherwise claim pursuant to this part with respect to the costs paid or incurred by a taxpayer for an initial professional license fee.
(d) In the case where the credit allowed under this section exceeds the net tax, the excess credit may be carried over to reduce the net tax in the following taxable year and succeeding five taxable years, if necessary, until the credit has been exhausted.
(e) It is the intent of the Legislature to comply with Section 41.
SEC. 2. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 2. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 2. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
### SEC. 2.
The provisions of this part apply to the taxable income of taxpayers received or accrued on or after January 1, 1935.