Amended IN Assembly May 22, 2023 Amended IN Assembly March 29, 2023 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1456Introduced by Assembly Member Joe PattersonFebruary 17, 2023An act to add Sections 17052.4 and 23652.4 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTAB 1456, as amended, Joe Patterson. Income taxes: credit: guest lectures.The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill, for taxable years beginning on or after January 1, 2024, would allow a credit against those taxes to a business financial institution whose qualified employee, as defined, provides a qualified guest lecture, as specified, to students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a public or private school, including a charter school or an alternative school, located in the same city as the business, financial institution, in an amount equal to $500 per qualified guest lecture during the taxable year, not to exceed $1,000 per taxable year.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.The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credit, performance indicators for determining whether the credit meets those goals, purposes, and objectives, and data collection requirements.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 17052.4 is added to the Revenue and Taxation Code, to read:17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation. (2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.SEC. 2. Section 23652.4 is added to the Revenue and Taxation Code, to read:23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.SEC. 3. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
Amended IN Assembly May 22, 2023 Amended IN Assembly March 29, 2023 CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 1456Introduced by Assembly Member Joe PattersonFebruary 17, 2023An act to add Sections 17052.4 and 23652.4 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.LEGISLATIVE COUNSEL'S DIGESTAB 1456, as amended, Joe Patterson. Income taxes: credit: guest lectures.The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill, for taxable years beginning on or after January 1, 2024, would allow a credit against those taxes to a business financial institution whose qualified employee, as defined, provides a qualified guest lecture, as specified, to students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a public or private school, including a charter school or an alternative school, located in the same city as the business, financial institution, in an amount equal to $500 per qualified guest lecture during the taxable year, not to exceed $1,000 per taxable year.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.The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credit, performance indicators for determining whether the credit meets those goals, purposes, and objectives, and data collection requirements.This bill would take effect immediately as a tax levy.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
Amended IN Assembly May 22, 2023 Amended IN Assembly March 29, 2023
Amended IN Assembly May 22, 2023
Amended IN Assembly March 29, 2023
CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION
Assembly Bill
No. 1456
Introduced by Assembly Member Joe PattersonFebruary 17, 2023
Introduced by Assembly Member Joe Patterson
February 17, 2023
An act to add Sections 17052.4 and 23652.4 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 1456, as amended, Joe Patterson. Income taxes: credit: guest lectures.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.This bill, for taxable years beginning on or after January 1, 2024, would allow a credit against those taxes to a business financial institution whose qualified employee, as defined, provides a qualified guest lecture, as specified, to students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a public or private school, including a charter school or an alternative school, located in the same city as the business, financial institution, in an amount equal to $500 per qualified guest lecture during the taxable year, not to exceed $1,000 per taxable year.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.The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credit, performance indicators for determining whether the credit meets those goals, purposes, and objectives, and data collection requirements.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.
This bill, for taxable years beginning on or after January 1, 2024, would allow a credit against those taxes to a business financial institution whose qualified employee, as defined, provides a qualified guest lecture, as specified, to students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a public or private school, including a charter school or an alternative school, located in the same city as the business, financial institution, in an amount equal to $500 per qualified guest lecture during the taxable year, not to exceed $1,000 per taxable year.
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.
The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credit, performance indicators for determining whether the credit meets those goals, purposes, and objectives, and data collection requirements.
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 17052.4 is added to the Revenue and Taxation Code, to read:17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation. (2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.SEC. 2. Section 23652.4 is added to the Revenue and Taxation Code, to read:23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.SEC. 3. 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 17052.4 is added to the Revenue and Taxation Code, to read:17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation. (2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.
SECTION 1. Section 17052.4 is added to the Revenue and Taxation Code, to read:
### SECTION 1.
17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation. (2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.
17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation. (2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.
17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation. (2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.
17052.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the net tax, as defined in Section 17039, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.
(b) For purposes of this section:
(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.
(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.
(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.
(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.
(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.
(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.
(d) 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 seven years, if necessary, until the credit is exhausted.
(e) For purposes of complying with Section 41 with respect to this section and Section 23652.4, the Legislature finds and declares the following:
(1) The specific goal, purpose, and objective of the credit allowed by this section and Section 23652.4 is to provide an additional incentive for local businesses financial institutions to educate students within their city on issues relating to the company or industry, such as customer service, finance, technology, financial literacy, or balancing a budget. financial literacy, such as debt, college debt, savings, investment, interest rates, and taxation.
(2) Detailed performance indicators for the Legislature to use in determining whether the credits meet that goal, purpose, and objective are as follows:
(A) The number of qualified taxpayers that are allowed a credit under this section and Section 23652.4.
(B) The total number of credits allowed under this section and Section 23652.4 that are claimed during the taxable year.
(3) The Franchise Tax Board, on or before March 1, 2025, and annually thereafter, shall review the effectiveness of the credits allowed by this section and Section 23652.4, and shall post the review on their internet website.
SEC. 2. Section 23652.4 is added to the Revenue and Taxation Code, to read:23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.
SEC. 2. Section 23652.4 is added to the Revenue and Taxation Code, to read:
### SEC. 2.
23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.
23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.
23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.(b) For purposes of this section:(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.(d) 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 seven years, if necessary, until the credit is exhausted.
23652.4. (a) For each taxable year beginning on or after January 1, 2024, there shall be allowed a credit against the tax, as defined in Section 23036, to a qualified taxpayer in an amount equal to five hundred dollars ($500) per qualified guest lecture during the taxable year, not to exceed one thousand dollars ($1,000) per taxable year.
(b) For purposes of this section:
(1) Qualified employee means an employee of the qualified taxpayer who does not receive any compensation, monetary or otherwise, for the qualified quest guest lecture.
(2) Qualified guest lecture means a lecture or presentation by a qualified employee to qualified students during class time, for a length of at least 45 minutes, on topics related to the qualified taxpayers company or industry, including financial literacy and customer service. financial literacy, including, but not limited to, debt, college debt, savings, investment, interest rates, and taxation.
(3) Qualified school means a public or private school, including a charter school or an alternative school. school, located in the state.
(4) Qualified students means students enrolled in kindergarten or any of grades 1 to 12, inclusive, grade 11 or 12 at a qualified school.
(5) Qualified taxpayer means a business financial institution, including, but not limited to, credit unions, banks, or investment entities, located within the same city as the qualified school at which the qualified guest lecture occurred.
(c) Any deduction otherwise allowed under this part for any amount paid or incurred by the taxpayer upon which the credit is based shall be reduced by the amount of the credit allowed under this section.
(d) 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 seven years, if necessary, until the credit is exhausted.
SEC. 3. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 3. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
SEC. 3. This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.
### SEC. 3.