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| 1 | + | CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 769Introduced by Assembly Member Bauer-KahanFebruary 13, 2023 An act to add and repeal Sections 17053.76 and 23622 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTAB 769, as introduced, Bauer-Kahan. Personal Income Tax Law: Corporation Tax Law: credits: carbon reduction.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, 2023, and before January 1, 2028, would allow a credit against the taxes imposed by those laws for a qualified taxpayer in an amount equal to $800 per ton of criteria air pollutant reduced beyond the baseline amount. The bill would define qualified taxpayer for this purpose to mean a major source emitter, as defined, that has emissions levels of criteria air pollutants for the taxable year at least 5% below the requirements set by the federal Clean Air Act. The bill would also define baseline amount with respect to criteria air pollutants to mean the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. 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 17053.76 is added to the Revenue and Taxation Code, to read:17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows:(A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities.(B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed.(2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed.(B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542.(f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed.SEC. 2. Section 23622 is added to the Revenue and Taxation Code, to read:23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed.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. | |
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| 3 | + | CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION Assembly Bill No. 769Introduced by Assembly Member Bauer-KahanFebruary 13, 2023 An act to add and repeal Sections 17053.76 and 23622 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTAB 769, as introduced, Bauer-Kahan. Personal Income Tax Law: Corporation Tax Law: credits: carbon reduction.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, 2023, and before January 1, 2028, would allow a credit against the taxes imposed by those laws for a qualified taxpayer in an amount equal to $800 per ton of criteria air pollutant reduced beyond the baseline amount. The bill would define qualified taxpayer for this purpose to mean a major source emitter, as defined, that has emissions levels of criteria air pollutants for the taxable year at least 5% below the requirements set by the federal Clean Air Act. The bill would also define baseline amount with respect to criteria air pollutants to mean the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. 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 January 03, 2024 | |
| 6 | 5 | ||
| 7 | - | Amended IN Assembly January 03, 2024 | |
| 6 | + | ||
| 7 | + | ||
| 8 | 8 | ||
| 9 | 9 | CALIFORNIA LEGISLATURE 20232024 REGULAR SESSION | |
| 10 | 10 | ||
| 11 | 11 | Assembly Bill | |
| 12 | 12 | ||
| 13 | 13 | No. 769 | |
| 14 | 14 | ||
| 15 | 15 | Introduced by Assembly Member Bauer-KahanFebruary 13, 2023 | |
| 16 | 16 | ||
| 17 | 17 | Introduced by Assembly Member Bauer-Kahan | |
| 18 | 18 | February 13, 2023 | |
| 19 | 19 | ||
| 20 | - | An act to add and repeal Sections 17053.76 and 23622 | |
| 20 | + | An act to add and repeal Sections 17053.76 and 23622 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. | |
| 21 | 21 | ||
| 22 | 22 | LEGISLATIVE COUNSEL'S DIGEST | |
| 23 | 23 | ||
| 24 | 24 | ## LEGISLATIVE COUNSEL'S DIGEST | |
| 25 | 25 | ||
| 26 | - | AB 769, as | |
| 26 | + | AB 769, as introduced, Bauer-Kahan. Personal Income Tax Law: Corporation Tax Law: credits: carbon reduction. | |
| 27 | 27 | ||
| 28 | - | 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, 2023, and before January 1, 2028, would allow a credit against the taxes imposed by those laws for a qualified taxpayer in an amount equal to $800 per ton of criteria air pollutant reduced beyond the baseline amount. The bill would define qualified taxpayer for this purpose to mean a major source emitter, as defined, that has emissions levels of criteria air pollutants for the taxable year at least 5% below the requirements set by the federal Clean Air Act. The bill would also define baseline amount with respect to criteria air pollutants to mean the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act. | |
| 28 | + | 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, 2023, and before January 1, 2028, would allow a credit against the taxes imposed by those laws for a qualified taxpayer in an amount equal to $800 per ton of criteria air pollutant reduced beyond the baseline amount. The bill would define qualified taxpayer for this purpose to mean a major source emitter, as defined, that has emissions levels of criteria air pollutants for the taxable year at least 5% below the requirements set by the federal Clean Air Act. The bill would also define baseline amount with respect to criteria air pollutants to mean the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy. | |
| 29 | 29 | ||
| 30 | 30 | The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. | |
| 31 | 31 | ||
| 32 | - | ||
| 33 | - | ||
| 34 | 32 | This bill, for taxable years beginning on or after January 1, 2023, and before January 1, 2028, would allow a credit against the taxes imposed by those laws for a qualified taxpayer in an amount equal to $800 per ton of criteria air pollutant reduced beyond the baseline amount. The bill would define qualified taxpayer for this purpose to mean a major source emitter, as defined, that has emissions levels of criteria air pollutants for the taxable year at least 5% below the requirements set by the federal Clean Air Act. The bill would also define baseline amount with respect to criteria air pollutants to mean the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act. | |
| 35 | - | ||
| 36 | - | ||
| 37 | - | ||
| 38 | - | The Personal Income Tax Law, in modified conformity with federal income tax law, generally defines gross income as income from whatever source derived, except as specifically excluded, including an exclusion for the amount of student loan indebtedness repaid or canceled pursuant to a specified federal law. | |
| 39 | - | ||
| 40 | - | This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would exclude qualified discharge of indebtedness income from gross income. The bill would define qualified discharge of indebetedness income for this purpose to mean income that would otherwise be realized from the discharge of student loan debt, as defined, or medical debt that is discharged by a qualifying nonprofit organization. | |
| 41 | 33 | ||
| 42 | 34 | Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. | |
| 43 | 35 | ||
| 44 | 36 | This bill would include additional information required for any bill authorizing a new tax expenditure. | |
| 45 | 37 | ||
| 46 | 38 | This bill would take effect immediately as a tax levy. | |
| 47 | 39 | ||
| 48 | 40 | ## Digest Key | |
| 49 | 41 | ||
| 50 | 42 | ## Bill Text | |
| 51 | 43 | ||
| 52 | - | The people of the State of California do enact as follows:SECTION 1. | |
| 44 | + | The people of the State of California do enact as follows:SECTION 1. Section 17053.76 is added to the Revenue and Taxation Code, to read:17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows:(A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities.(B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed.(2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed.(B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542.(f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed.SEC. 2. Section 23622 is added to the Revenue and Taxation Code, to read:23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed.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. | |
| 53 | 45 | ||
| 54 | 46 | The people of the State of California do enact as follows: | |
| 55 | 47 | ||
| 56 | 48 | ## The people of the State of California do enact as follows: | |
| 57 | 49 | ||
| 58 | - | SECTION 1. Section | |
| 50 | + | SECTION 1. Section 17053.76 is added to the Revenue and Taxation Code, to read:17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows:(A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities.(B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed.(2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed.(B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542.(f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 59 | 51 | ||
| 60 | - | SECTION 1. Section | |
| 52 | + | SECTION 1. Section 17053.76 is added to the Revenue and Taxation Code, to read: | |
| 61 | 53 | ||
| 62 | 54 | ### SECTION 1. | |
| 63 | 55 | ||
| 64 | - | ||
| 56 | + | 17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows:(A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities.(B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed.(2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed.(B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542.(f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 65 | 57 | ||
| 66 | - | ||
| 58 | + | 17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows:(A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities.(B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed.(2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed.(B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542.(f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 67 | 59 | ||
| 68 | - | ||
| 60 | + | 17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows:(A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities.(B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed.(2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed.(B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542.(f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 69 | 61 | ||
| 70 | 62 | ||
| 71 | 63 | ||
| 72 | - | ||
| 64 | + | 17053.76. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount. | |
| 73 | 65 | ||
| 74 | - | (b) For purposes of this section, the following definitions | |
| 66 | + | (b) For purposes of this section, the following definitions apply: | |
| 75 | 67 | ||
| 76 | - | (1) | |
| 68 | + | (1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act. | |
| 77 | 69 | ||
| 78 | - | (2) | |
| 70 | + | (2) Qualified taxpayer means a taxpayer that satisfies all of the following: | |
| 79 | 71 | ||
| 80 | - | ( | |
| 72 | + | (A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations. | |
| 81 | 73 | ||
| 82 | - | ( | |
| 74 | + | (B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act. | |
| 83 | 75 | ||
| 84 | - | ( | |
| 76 | + | (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 four years, if necessary, until the credit is exhausted. | |
| 85 | 77 | ||
| 86 | - | ( | |
| 78 | + | (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment. | |
| 87 | 79 | ||
| 88 | - | ( | |
| 80 | + | (2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section. | |
| 89 | 81 | ||
| 90 | - | ( | |
| 82 | + | (e) (1) For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows: | |
| 91 | 83 | ||
| 92 | - | ( | |
| 84 | + | (A) The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities. | |
| 93 | 85 | ||
| 94 | - | ( | |
| 86 | + | (B) The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed. | |
| 95 | 87 | ||
| 96 | - | ( | |
| 88 | + | (2) (A) No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed. | |
| 97 | 89 | ||
| 98 | - | ||
| 90 | + | (B) The disclosure provisions of this paragraph shall be treated as an exception to Section 19542. | |
| 99 | 91 | ||
| 100 | - | ||
| 92 | + | (f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 101 | 93 | ||
| 102 | - | 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. | |
| 94 | + | SEC. 2. Section 23622 is added to the Revenue and Taxation Code, to read:23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 95 | + | ||
| 96 | + | SEC. 2. Section 23622 is added to the Revenue and Taxation Code, to read: | |
| 103 | 97 | ||
| 104 | 98 | ### SEC. 2. | |
| 105 | 99 | ||
| 100 | + | 23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 101 | + | ||
| 102 | + | 23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 103 | + | ||
| 104 | + | 23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount.(b) For purposes of this section, the following definitions apply:(1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act.(2) Qualified taxpayer means a taxpayer that satisfies all of the following:(A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations.(B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act.(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 four years, if necessary, until the credit is exhausted. (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment.(2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section.(e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 106 | 105 | ||
| 107 | 106 | ||
| 108 | 107 | ||
| 109 | - | ||
| 110 | - | (a)For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the net tax, as that term is defined in Section 17039, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount. | |
| 111 | - | ||
| 112 | - | ||
| 108 | + | 23622. (a) For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount. | |
| 113 | 109 | ||
| 114 | 110 | (b) For purposes of this section, the following definitions apply: | |
| 115 | 111 | ||
| 116 | - | ||
| 117 | - | ||
| 118 | - | (1)Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act. | |
| 119 | - | ||
| 120 | - | ||
| 112 | + | (1) Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act. | |
| 121 | 113 | ||
| 122 | 114 | (2) Qualified taxpayer means a taxpayer that satisfies all of the following: | |
| 123 | 115 | ||
| 124 | - | ||
| 125 | - | ||
| 126 | 116 | (A) Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations. | |
| 127 | - | ||
| 128 | - | ||
| 129 | 117 | ||
| 130 | 118 | (B) Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act. | |
| 131 | 119 | ||
| 132 | - | ||
| 133 | - | ||
| 134 | - | (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 four years, if necessary, until the credit is exhausted. | |
| 135 | - | ||
| 136 | - | ||
| 120 | + | (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 four years, if necessary, until the credit is exhausted. | |
| 137 | 121 | ||
| 138 | 122 | (d) (1) The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment. | |
| 139 | 123 | ||
| 140 | - | ||
| 141 | - | ||
| 142 | 124 | (2) The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section. | |
| 143 | - | ||
| 144 | - | ||
| 145 | - | ||
| 146 | - | (e)(1)For purposes of complying with Section 41 as it related to the credit allowed by this section and Section 23622, the Legislature finds and declares as follows: | |
| 147 | - | ||
| 148 | - | ||
| 149 | - | ||
| 150 | - | (A)The goals, purposes, and objectives of the credit are to encourage businesses to surpass their requirements under the federal Clean Air Act and to improve the health of local communities. | |
| 151 | - | ||
| 152 | - | ||
| 153 | - | ||
| 154 | - | (B)The performance indicators for the Legislature to use in determining whether the credit is achieving its stated goal are the number of taxpayers allowed a credit pursuant to this section or Section 23622, and the average dollar value of credits allowed. | |
| 155 | - | ||
| 156 | - | ||
| 157 | - | ||
| 158 | - | (2)(A)No later than June 1, 2024, and annually thereafter, the Franchise Tax Board shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, reporting the number of taxpayers allowed a credit under this section or Section 23622, and the average dollar value of credits allowed. | |
| 159 | - | ||
| 160 | - | ||
| 161 | - | ||
| 162 | - | (B)The disclosure provisions of this paragraph shall be treated as an exception to Section 19542. | |
| 163 | - | ||
| 164 | - | ||
| 165 | - | ||
| 166 | - | (f)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 167 | - | ||
| 168 | - | ||
| 169 | - | ||
| 170 | - | ||
| 171 | - | ||
| 172 | - | ||
| 173 | - | ||
| 174 | - | (a)For each taxable year beginning on or after January 1, 2023, and before January 1, 2028, there shall be allowed as a credit against the tax, as that term is defined in Section 23036, of a qualified taxpayer in an amount equal to eight hundred dollars ($800) per ton of criteria air pollutant reduced beyond the baseline amount. | |
| 175 | - | ||
| 176 | - | ||
| 177 | - | ||
| 178 | - | (b)For purposes of this section, the following definitions apply: | |
| 179 | - | ||
| 180 | - | ||
| 181 | - | ||
| 182 | - | (1)Baseline amount, with respect to criteria air pollutants, means the level of criteria air pollutants a person may emit to meet the requirements of the federal Clean Air Act. | |
| 183 | - | ||
| 184 | - | ||
| 185 | - | ||
| 186 | - | (2)Qualified taxpayer means a taxpayer that satisfies all of the following: | |
| 187 | - | ||
| 188 | - | ||
| 189 | - | ||
| 190 | - | (A)Is a major source emitter, as that term is defined in Section 63.2 of Title 40 of the Code of Federal Regulations. | |
| 191 | - | ||
| 192 | - | ||
| 193 | - | ||
| 194 | - | (B)Has emissions levels of criteria air pollutants for the taxable year that are at least 5 percent lower than the requirements set by the federal Clean Air Act. | |
| 195 | - | ||
| 196 | - | ||
| 197 | - | ||
| 198 | - | (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 four years, if necessary, until the credit is exhausted. | |
| 199 | - | ||
| 200 | - | ||
| 201 | - | ||
| 202 | - | (d)(1)The Franchise Tax Board may prescribe any regulations necessary or appropriate to carry out the purposes of this section, including any regulations to prevent improper claims from being filed or improper payments from being made with respect to net earnings from self-employment. | |
| 203 | - | ||
| 204 | - | ||
| 205 | - | ||
| 206 | - | (2)The Franchise Tax Board may prescribe rules, guidelines, procedures, or other guidance to carry out the purposes of this section. Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any rule, guideline, or procedure prescribed by the Franchise Tax Board pursuant to this section. | |
| 207 | - | ||
| 208 | - | ||
| 209 | 125 | ||
| 210 | 126 | (e)This section shall remain in effect only until December 1, 2008, and as of that date is repealed. | |
| 211 | 127 | ||
| 128 | + | 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. | |
| 212 | 129 | ||
| 130 | + | 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. | |
| 213 | 131 | ||
| 132 | + | 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. | |
| 214 | 133 | ||
| 215 | - | ||
| 216 | - | This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect. | |
| 134 | + | ### SEC. 3. |