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SB-468 Taxation: tax expenditures: California Tax Expenditure Review Board.(2019-2020)

Senate:
1st
Cmt
2nd
Cmt
2nd
3rd
Pass
Pass
Veto
Assembly:
1st
Cmt
2nd
Cmt
2nd
3rd
Pass
Bill Status
SB-468
Jackson (S)
-
Bonta (A) , McCarty (A) , Medina (A) , Mullin (A) , Quirk (A) , Skinner (S) , Ting (A) , Wicks (A)
Taxation: tax expenditures: California Tax Expenditure Review Board.
03/24/19
An act to add and repeal Sections 42 and 43 of the Revenue and Taxation Code, relating to taxation.
Senate
09/13/19
09/03/19

Type of Measure
Active Bill - In Floor Process
Majority Vote Required
Non-Appropriation
Fiscal Committee
Non-State-Mandated Local Program
Non-Urgency
Non-Tax levy
Last 5 History Actions
Date Action
10/11/19 In Senate. Consideration of Governor's veto pending.
10/11/19 Vetoed by the Governor.
09/19/19 Enrolled and presented to the Governor at 3 p.m.
09/11/19 Assembly amendments concurred in. (Ayes 28. Noes 10. Page 2851.) Ordered to engrossing and enrolling.
09/10/19 In Senate. Concurrence in Assembly amendments pending.
Governor's Veto Message
To the Members of the California State Senate:

I am returning Senate Bill 468 without my signature.

The bill creates the California Tax Expenditure Review Board to comprehensively assess specified major tax expenditures and make recommendations to the Legislature.

I support greater transparency with respect to tax credits, exemptions, and other expenditures and believe these items should be scrutinized periodically to justify their overall cost to the state's revenue base. However, creating a new board to accomplish that goal is unnecessary. The Department of Finance is currently required to publish tax expenditure reports and existing law requires new income tax expenditures to specify goals, performance indicators, and data collection requirements.

For these reasons, I am returning this bill without my signature.

Sincerely,





Gavin Newsom