| Old | New | Differences | |
|---|---|---|---|
| 1 | - | ||
| 1 | + | CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION Senate Bill No. 267Introduced by Senators Choi and Ochoa Bogh(Coauthors: Senators Alvarado-Gil, Ashby, Grove, Jones, McNerney, Rubio, and Valladares)February 03, 2025 An act to add and repeal Section 17055.2 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTSB 267, as introduced, Choi. Personal income tax: credit: qualified teacher: school supplies. The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, in an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, as defined, not to exceed $250. The bill would define qualified teacher as a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within the first 3 years of employment as a teacher. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.This bill also 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 17055.2 is added to the Revenue and Taxation Code, to read:17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher.(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 two years if necessary, until the credit is exhausted.(d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following:(A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete.(B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies.(2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed.(B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542.(e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed.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. | |
| 2 | 2 | ||
| 3 | - | ||
| 3 | + | CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION Senate Bill No. 267Introduced by Senators Choi and Ochoa Bogh(Coauthors: Senators Alvarado-Gil, Ashby, Grove, Jones, McNerney, Rubio, and Valladares)February 03, 2025 An act to add and repeal Section 17055.2 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. LEGISLATIVE COUNSEL'S DIGESTSB 267, as introduced, Choi. Personal income tax: credit: qualified teacher: school supplies. The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, in an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, as defined, not to exceed $250. The bill would define qualified teacher as a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within the first 3 years of employment as a teacher. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.This bill also 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 Senate March 10, 2025 | |
| 6 | 5 | ||
| 7 | - | Amended IN Senate March 10, 2025 | |
| 6 | + | ||
| 7 | + | ||
| 8 | 8 | ||
| 9 | 9 | CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION | |
| 10 | 10 | ||
| 11 | 11 | Senate Bill | |
| 12 | 12 | ||
| 13 | 13 | No. 267 | |
| 14 | 14 | ||
| 15 | - | Introduced by Senators Choi and Ochoa Bogh(Coauthors: Senators Alvarado-Gil, Ashby, | |
| 15 | + | Introduced by Senators Choi and Ochoa Bogh(Coauthors: Senators Alvarado-Gil, Ashby, Grove, Jones, McNerney, Rubio, and Valladares)February 03, 2025 | |
| 16 | 16 | ||
| 17 | - | Introduced by Senators Choi and Ochoa Bogh(Coauthors: Senators Alvarado-Gil, Ashby, | |
| 17 | + | Introduced by Senators Choi and Ochoa Bogh(Coauthors: Senators Alvarado-Gil, Ashby, Grove, Jones, McNerney, Rubio, and Valladares) | |
| 18 | 18 | February 03, 2025 | |
| 19 | 19 | ||
| 20 | 20 | An act to add and repeal Section 17055.2 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 | - | SB 267, as | |
| 26 | + | SB 267, as introduced, Choi. Personal income tax: credit: qualified teacher: school supplies. | |
| 27 | 27 | ||
| 28 | - | The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, in an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, as defined, not to exceed $250. The bill would define qualified teacher as a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within the first 3 years of employment as a teacher. | |
| 28 | + | The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, in an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, as defined, not to exceed $250. The bill would define qualified teacher as a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within the first 3 years of employment as a teacher. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.This bill also 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 allows various credits against the taxes imposed by that law. | |
| 31 | 31 | ||
| 32 | - | This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, in an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, as defined, not to exceed $250. The bill would define qualified teacher as a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within the first 3 years of employment as a teacher. | |
| 32 | + | This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, in an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, as defined, not to exceed $250. The bill would define qualified teacher as a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within the first 3 years of employment as a teacher. | |
| 33 | 33 | ||
| 34 | 34 | Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. | |
| 35 | 35 | ||
| 36 | 36 | This bill also would include additional information required for any bill authorizing a new tax expenditure. | |
| 37 | 37 | ||
| 38 | 38 | This bill would take effect immediately as a tax levy. | |
| 39 | 39 | ||
| 40 | 40 | ## Digest Key | |
| 41 | 41 | ||
| 42 | 42 | ## Bill Text | |
| 43 | 43 | ||
| 44 | - | The people of the State of California do enact as follows:SECTION 1. Section 17055.2 is added to the Revenue and Taxation Code, to read:17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher | |
| 44 | + | The people of the State of California do enact as follows:SECTION 1. Section 17055.2 is added to the Revenue and Taxation Code, to read:17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher.(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 two years if necessary, until the credit is exhausted.(d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following:(A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete.(B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies.(2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed.(B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542.(e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed.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. | |
| 45 | 45 | ||
| 46 | 46 | The people of the State of California do enact as follows: | |
| 47 | 47 | ||
| 48 | 48 | ## The people of the State of California do enact as follows: | |
| 49 | 49 | ||
| 50 | - | SECTION 1. Section 17055.2 is added to the Revenue and Taxation Code, to read:17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher | |
| 50 | + | SECTION 1. Section 17055.2 is added to the Revenue and Taxation Code, to read:17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher.(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 two years if necessary, until the credit is exhausted.(d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following:(A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete.(B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies.(2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed.(B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542.(e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed. | |
| 51 | 51 | ||
| 52 | 52 | SECTION 1. Section 17055.2 is added to the Revenue and Taxation Code, to read: | |
| 53 | 53 | ||
| 54 | 54 | ### SECTION 1. | |
| 55 | 55 | ||
| 56 | - | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher | |
| 56 | + | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher.(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 two years if necessary, until the credit is exhausted.(d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following:(A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete.(B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies.(2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed.(B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542.(e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed. | |
| 57 | 57 | ||
| 58 | - | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher | |
| 58 | + | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher.(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 two years if necessary, until the credit is exhausted.(d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following:(A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete.(B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies.(2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed.(B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542.(e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed. | |
| 59 | 59 | ||
| 60 | - | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher | |
| 60 | + | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year.(b) For purposes of this section:(1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature.(B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education.(2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher.(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 two years if necessary, until the credit is exhausted.(d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following:(A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete.(B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies.(2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed.(B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542.(e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed. | |
| 61 | 61 | ||
| 62 | 62 | ||
| 63 | 63 | ||
| 64 | 64 | 17055.2. (a) For each taxable year beginning on or after January 1, 2026, and before January 1, 2031, there shall be allowed as a credit against the net tax, as defined in Section 17039, an amount equal to the amount paid or incurred by a qualified teacher during the taxable year for instructional materials and classroom supplies, not to exceed two hundred fifty dollars ($250) per taxable year. | |
| 65 | 65 | ||
| 66 | 66 | (b) For purposes of this section: | |
| 67 | 67 | ||
| 68 | 68 | (1) (A) Instructional materials and classroom supplies means books, supplies, computer equipment, including related software, services, and other equipment, and supplementary materials used in the classroom, that are not of a religious nature. | |
| 69 | 69 | ||
| 70 | 70 | (B) Instructional materials and classroom supplies does not include nonathletic supplies for courses of instruction in health or physical education. | |
| 71 | 71 | ||
| 72 | - | (2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher. | |
| 72 | + | (2) Qualified teacher means a teacher in a public, charter, or private school offering instruction in kindergarten or any of grades 1 to 12, inclusive, who is within their first three years of employment as a teacher. | |
| 73 | 73 | ||
| 74 | 74 | (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 two years if necessary, until the credit is exhausted. | |
| 75 | 75 | ||
| 76 | 76 | (d) (1) For the purposes of complying with Section 41, the Legislature finds and declares that the goals of this credit are both of the following: | |
| 77 | 77 | ||
| 78 | 78 | (A) To provide relief to teachers until more permanent funding can be provided to furnish classrooms with the needed supplies to make the credit obsolete. | |
| 79 | 79 | ||
| 80 | 80 | (B) To provide a baseline to determine if education funding is reducing the need for qualified teachers to purchase instructional materials and classroom supplies. | |
| 81 | 81 | ||
| 82 | 82 | (2) (A) The Franchise Tax Board, no later than December 1, 2027, and annually thereafter, shall submit a report to the Legislature, in compliance with Section 9795 of the Government Code, detailing the number of taxpayers allowed a credit pursuant to this section, and the total dollar amount of credits allowed. | |
| 83 | 83 | ||
| 84 | 84 | (B) The disclosure requirements of this paragraph shall be treated as an exception to Section 19542. | |
| 85 | 85 | ||
| 86 | 86 | (e) This section shall remain in effect only until December 1, 2031, and as of that date is repealed. | |
| 87 | 87 | ||
| 88 | 88 | 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. | |
| 89 | 89 | ||
| 90 | 90 | 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. | |
| 91 | 91 | ||
| 92 | 92 | 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. | |
| 93 | 93 | ||
| 94 | 94 | ### SEC. 2. |