Today's Law As Amended


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AB-263 Taxation: tax expenditures: information.(2019-2020)



As Amends the Law Today
As Amends the Law on Nov 18, 2019


SECTION 1.

 Section 41 of the Revenue and Taxation Code is amended to read:

41.
 (a)  Notwithstanding any other law, any bill, introduced on or after January 1, 2020, 2015,  that would authorize a new tax expenditure under Part 10 (commencing with Section 17001) of Division 2, Part 11 (commencing with Section 23001) of Division 2, or both, or that would authorize an exemption from the taxes imposed by Part 1 (commencing with Section 6001) of Division 2,  credit against the “net tax,” as defined in Section 17039, or against the “tax,” as defined in Section 23036, or both,  shall contain all of the following:
(1) (a)  Specific goals, purposes, and objectives that the tax expenditure credit  will achieve.
(2) (b)  Detailed performance indicators for the Legislature to use when measuring whether the tax expenditure credit  meets the goals, purposes, and objectives stated in the bill.
(3) (c)  Data collection requirements to enable the Legislature to determine whether the tax expenditure credit  is meeting, failing to meet, or exceeding those specific goals, purposes, and objectives. The requirements shall include the specific data and baseline measurements to be collected and remitted in each year the tax expenditure  credit  is in effect, in order for the Legislature to measure the change in performance indicators, and the specific taxpayers, state agencies, or other entities required to collect and remit data.
(b) For purposes of this section, “tax expenditure” means a credit, deduction, exclusion, exemption, or any other tax benefit as provided for by the state.
(c) (d)  Taxpayer information collected pursuant to this section is subject to Sections 7056.5 and  Section  19542.
(e) This section shall remain in effect only until January 1, 2020, and as of that date is repealed.

SEC. 2.

 Section 41 is added to the Revenue and Taxation Code, to read:

41.
 (a) Notwithstanding any other law, any bill, introduced on or after January 1, 2020, that would authorize a new tax expenditure under Part 10 (commencing with Section 17001) of Division 2, Part 11 (commencing with Section 23001) of Division 2, or both, or that would authorize an exemption from the taxes imposed by Part 1 (commencing with Section 6001) of Division 2, shall contain all of the following:
(1) Specific goals, purposes, and objectives that the tax expenditure will achieve.
(2) Detailed performance indicators for the Legislature to use when measuring whether the tax expenditure meets the goals, purposes, and objectives stated in the bill.
(3) Data collection requirements to enable the Legislature to determine whether the tax expenditure is meeting, failing to meet, or exceeding those specific goals, purposes, and objectives. The requirements shall include the specific data and baseline measurements to be collected and remitted in each year the tax expenditure is in effect, in order for the Legislature to measure the change in performance indicators, and the specific taxpayers, state agencies, or other entities required to collect and remit data.
(b) For purposes of this section, “tax expenditure” means a credit, deduction, exclusion, exemption, or any other tax benefit as provided for by the state.
(c) Taxpayer information collected pursuant to this section is subject to Sections 7056.5 and 19542.
SEC. 3.
 No reimbursement is required by this act pursuant to Section 6 of Article XIII B of the California Constitution because the only costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII B of the California Constitution.