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AB-2283 Income taxes: exclusion: turf removal water conservation program.(2017-2018)

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Date Published: 02/13/2018 09:00 PM
AB2283:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill No. 2283


Introduced by Assembly Member Holden

February 13, 2018


An act to amend Sections 17138.2 and 24308.2 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.


LEGISLATIVE COUNSEL'S DIGEST


AB 2283, as introduced, Holden. Income taxes: exclusion: turf removal water conservation program.
The Personal Income Tax Law and the Corporation Tax Law, for taxable years beginning on or after January 1, 2014, and before January 1, 2019, provide an exclusion from gross income for any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program.
This bill would extend the operation of those provisions to January 1, 2024.
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 17138.2 of the Revenue and Taxation Code is amended to read:

17138.2.
 (a) For taxable years beginning on or after January 1, 2014, and before January 1, 2019, 2024, gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program.
(b) This section shall remain in effect only until December 1, 2019, 2024, and as of that date is repealed.

SEC. 2.

 Section 24308.2 of the Revenue and Taxation Code is amended to read:

24308.2.
 (a) For taxable years beginning on or after January 1, 2014, and before January 1, 2019, 2024, gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program.
(b) This section shall remain in effect only until December 1, 2019, 2024, and as of that date is repealed.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.