Today's Law As Amended


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AB-893 Income taxes: deductions: Mello-Roos.(2013-2014)



As Amends the Law Today


SECTION 1.

 Section 17239 is added to the Revenue and Taxation Code, to read:

17239.
 For each taxable year beginning on or after January 1, 2014, there shall be allowed as a deduction the amount paid by the taxpayer pursuant to the Mello-Roos Community Facilities Act of 1982 (Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code).

SEC. 2.

 Section 24356.9 is added to the Revenue and Taxation Code, to read:

24356.9.
 For each taxable year beginning on or after January 1, 2014, there shall be allowed as a deduction the amount paid by the taxpayer pursuant to the Mello-Roos Community Facilities Act of 1982 (Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the Government Code).
SEC. 3.
  This act provides for a tax levy within the meaning of Article IV of the Constitution and shall go into immediate effect.