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AB-428 Income taxes: credit: seismic retrofits.(2015-2016)

Senate:
1st
Cmt
2nd
3rd
Pass
Assembly:
1st
Cmt
2nd
Cmt
3rd
2nd
3rd
Pass
Pass
Veto
Bill Status
AB-428
Nazarian (A)
-
Chávez (A) , Levine (A) , Ting (A) , Wilk (A)
Income taxes: credit: seismic retrofits.
03/22/15
An act to add and repeal Sections 17053.50 and 23650 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
Assembly
09/11/15
08/31/15

Type of Measure
Inactive Bill - Vetoed
Majority Vote Required
Non-Appropriation
Fiscal Committee
Non-State-Mandated Local Program
Urgency
Tax levy
Last 5 History Actions
Date Action
01/15/16 Consideration of Governor's veto stricken from file.
10/10/15 Vetoed by Governor.
09/17/15 Enrolled and presented to the Governor at 4 p.m.
09/09/15 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 0. Page 3013.).
09/09/15 Assembly Rule 77 suspended. (Page 2990.)
Governor's Veto Message
To the Members of the California State Assembly:

I am returning the following nine bills without my signature:

Assembly Bill 35
Assembly Bill 88
Assembly Bill 99
Assembly Bill 428
Assembly Bill 437
Assembly Bill 515
Assembly Bill 931
Senate Bill 251
Senate Bill 377

Each of these bills creates a new tax credit or expands an existing tax credit.

Despite strong revenue performance over the past few years, the state's budget has remained precariously balanced due to unexpected costs and the provision of new services. Now, without the extension of the managed care organization tax that I called for in special session, next year's budget faces the prospect of over $1 billion in cuts.

Given these financial uncertainties, I cannot support providing additional tax credits that will make balancing the state's budget even more difficult. Tax credits, like new spending on programs, need to be considered comprehensively as part of the budget deliberations.

Sincerely,



Edmund G. Brown Jr.