Today's Law As Amended


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SB-1231 Tax rebate.(2017-2018)



As Amends the Law Today


SECTION 1.

 Section 17131.8 is added to the Revenue and Taxation Code, to read:

17131.8.
 Gross income does not include any tax rebate received by a taxpayer pursuant to Chapter 11 (commencing with Section 19810) of Part 10.2.

SEC. 2.

 Chapter 11 (commencing with Section 19810) is added to Part 10.2 of Division 2 of the Revenue and Taxation Code, to read:

CHAPTER  11. Tax Rebates
19810.
 (a) On or before ____, the Franchise Tax Board shall issue tax rebates to taxpayers as follows:
(1) For taxpayers who filed a tax return for the 2016 taxable year and who filed as married individuals filing a joint return, filed a head of household return, or filed as a surviving spouse, twice the qualified amount.
(2) For a taxpayer who filed a tax return for the 2016 taxable year and who filed as a single taxpayer or filed as a married individual filing a separate return, the qualified amount.
(b) The Franchise Tax Board shall provide a taxpayer with the tax rebate required by this section in the same manner, where applicable, as any refund provided to that taxpayer.
(c) The qualified amount shall be determined by dividing six billion dollars ($6,000,000,000) by the number of tax returns filed by individuals pursuant to Part 10 (commencing with Section 17001) for the 2016 taxable year.
19811.
 (a) The Franchise Tax Board may adopt regulations necessary or appropriate to carry out the purposes of this chapter.
(b) Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code shall not apply to any standard, criterion, procedure, determination, rule, notice, or guideline established or issued by the Franchise Tax Board pursuant to this chapter.
19812.
 The sum of six billion dollars ($6,000,000,000) is hereby appropriated from the General Fund to the Franchise Tax Board for the following purposes:
(a) ($0.00) for administrative costs associated with this chapter.
(b) The remainder for the tax rebates required by Section 19810.
SEC. 3.
 The Legislature finds and declares that the tax rebate program described in this act, serves a public purpose to aid hard working Californians who continue to struggle to make ends meet and does not constitute a prohibited gift of public funds within the meaning of Section 6 of Article XVI of the California Constitution.