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AB-1863 Personal income tax: deduction: commercial cannabis activity.(2017-2018)

Senate:1stCmt2nd3rdPass
Assembly:1stCmt2ndCmt2nd3rdPassPassVeto
Bill Status
AB-1863
Jones-Sawyer (A) , Bonta (A) , Cooley (A) , Lackey (A) , Wood (A)
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Personal income tax: deduction: commercial cannabis activity.
02/11/18
An act to add Section 17209 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
Assembly
08/23/18
05/08/18

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
09/19/18 Vetoed by Governor.
08/27/18 Enrolled and presented to the Governor at 3 p.m.
08/22/18 In Assembly. Ordered to Engrossing and Enrolling.
08/21/18 Read third time. Passed. Ordered to the Assembly. (Ayes 29. Noes 6. Page 5549.).
08/17/18 Read second time. Ordered to third reading.
Governor's Veto Message
To the Members of the California State Assembly:

I am returning Assembly Bill 1863 without my signature.

This bill would allow licensed commercial cannabis businesses to deduct their business expenses under the state's personal income tax law, effective beginning tax year 2018.

The bill seeks to apply equal state tax treatment to licensed cannabis businesses in this state, regardless of whether they organize under the personal income tax or corporate income tax law. Given the cost to the General Fund, this proposal is best evaluated as part of the budget process.

Sincerely,



Edmund G. Brown Jr.