CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1400Introduced by Assembly Member BryanFebruary 17, 2023 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGESTAB 1400, as introduced, Bryan. College Access Tax Credit Fund.Existing law governing the taxation of insurers, the Personal Income Tax Law and the Corporation Tax Law, allow various credits against the taxes imposed by those laws, including a credit, for taxable years beginning on or after January 1, 2017, and before January 1, 2023, equal to 50% of a contribution to the College Access Tax Credit Fund, as provided. Existing law provides that moneys in the College Access Tax Credit Fund shall be allocated first to the General Fund, then, upon appropriation, to specified agencies for administrative costs related to this credit, and lastly continuously appropriated to the Student Aid Commission for awarding Cal Grants, as prescribed.This bill would state the intent of the Legislature to enact subsequent legislation relating to the College Access Tax Credit Fund.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 subsequent legislation relating to the College Access Tax Credit Fund.
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1400Introduced by Assembly Member BryanFebruary 17, 2023 An act relating to taxation. LEGISLATIVE COUNSEL'S DIGESTAB 1400, as introduced, Bryan. College Access Tax Credit Fund.Existing law governing the taxation of insurers, the Personal Income Tax Law and the Corporation Tax Law, allow various credits against the taxes imposed by those laws, including a credit, for taxable years beginning on or after January 1, 2017, and before January 1, 2023, equal to 50% of a contribution to the College Access Tax Credit Fund, as provided. Existing law provides that moneys in the College Access Tax Credit Fund shall be allocated first to the General Fund, then, upon appropriation, to specified agencies for administrative costs related to this credit, and lastly continuously appropriated to the Student Aid Commission for awarding Cal Grants, as prescribed.This bill would state the intent of the Legislature to enact subsequent legislation relating to the College Access Tax Credit Fund.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Assembly Bill
No. 1400
Introduced by Assembly Member BryanFebruary 17, 2023
Introduced by Assembly Member Bryan
February 17, 2023
An act relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 1400, as introduced, Bryan. College Access Tax Credit Fund.
Existing law governing the taxation of insurers, the Personal Income Tax Law and the Corporation Tax Law, allow various credits against the taxes imposed by those laws, including a credit, for taxable years beginning on or after January 1, 2017, and before January 1, 2023, equal to 50% of a contribution to the College Access Tax Credit Fund, as provided. Existing law provides that moneys in the College Access Tax Credit Fund shall be allocated first to the General Fund, then, upon appropriation, to specified agencies for administrative costs related to this credit, and lastly continuously appropriated to the Student Aid Commission for awarding Cal Grants, as prescribed.This bill would state the intent of the Legislature to enact subsequent legislation relating to the College Access Tax Credit Fund.
Existing law governing the taxation of insurers, the Personal Income Tax Law and the Corporation Tax Law, allow various credits against the taxes imposed by those laws, including a credit, for taxable years beginning on or after January 1, 2017, and before January 1, 2023, equal to 50% of a contribution to the College Access Tax Credit Fund, as provided. Existing law provides that moneys in the College Access Tax Credit Fund shall be allocated first to the General Fund, then, upon appropriation, to specified agencies for administrative costs related to this credit, and lastly continuously appropriated to the Student Aid Commission for awarding Cal Grants, as prescribed.
This bill would state the intent of the Legislature to enact subsequent legislation relating to the College Access Tax Credit Fund.
## 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 subsequent legislation relating to the College Access Tax Credit Fund.
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 subsequent legislation relating to the College Access Tax Credit Fund.
SECTION 1. It is the intent of the Legislature to enact subsequent legislation relating to the College Access Tax Credit Fund.
SECTION 1. It is the intent of the Legislature to enact subsequent legislation relating to the College Access Tax Credit Fund.
### SECTION 1.