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AB-2088 Personal income taxes: credit: STEM teachers.(2011-2012)

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AB2088:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2011–2012 REGULAR SESSION

Assembly Bill
No. 2088


Introduced  by  Assembly Member Bonilla

February 23, 2012


An act to add and repeal Section 17053.51 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.


LEGISLATIVE COUNSEL'S DIGEST


AB 2088, as introduced, Bonilla. Personal income taxes: credit: STEM teachers.
The Personal Income Tax Law allows various credits against the taxes imposed by that law.
This bill would, for taxable years beginning on or after January 1, 2013, and before January 1, 2018, allow a credit in the amount of either $1,000 for an eligible science, technology, engineering, or mathematics (STEM) teacher that teaches one or more STEM courses in any kindergarten or any of grades 1 to 12, inclusive, during an academic year ending in the taxable year, or $1,500 for those eligible STEM teachers who teach in a high-needs school, as defined.
This bill would take effect immediately as a tax levy.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 17053.51 is added to the Revenue and Taxation Code, to read:

17053.51.
 (a) (1) For each taxable year beginning on or after January 1, 2013, and before January 1, 2018, there shall be allowed as a credit against the “net tax,” as defined in Section 17039, an amount specified in paragraph (2) for an eligible science, technology, engineering, or mathematics (STEM) teacher that teaches one or more STEM courses in any kindergarten or any of grades 1 to 12, inclusive, during an academic year ending in the taxable year.
(2) (A) The amount of credit allowed to an eligible STEM teacher who does not teach in a high-needs school shall be one thousand dollars ($1,000) for each taxable year.
(B) The amount of credit allowed to an eligible STEM teacher who teaches in a high-needs school shall be one thousand five hundred dollars ($1,500) for each taxable year.
(b) For purposes of this section:
(1) “Eligible STEM teacher” means a person who received his or her baccalaureate degree in a STEM field who teaches full time in an elementary or secondary school.
(2) “Full time” means a minimum of 35 hours per week worked.
(3) “High-needs school” means a school that received funds from Subchapter I (commencing with Section 6301) of Chapter 70 of Title 20 of the United States Code, or its successor.
(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 year, and succeeding years if necessary, until the credit is exhausted.
(d) This section shall remain in effect only until December 1, 2018, and as of that date is repealed.

SEC. 2.

 This act provides for a tax levy within the meaning of Article IV of the Constitution and shall go into immediate effect.