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AB-1399 Income taxation: insurance taxation: credits: California New Markets Tax Credit.(2013-2014)

Senate:
1st
Cmt
2nd
3rd
2nd
3rd
2nd
3rd
Cmt
2nd
3rd
2nd
3rd
Pass
Assembly:
1st
Cmt
2nd
Pass
Cmt
Pass
Veto
Bill Status
AB-1399
Medina (A) , V. Manuel PĂ©rez (A)
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Income taxation: insurance taxation: credits: California New Markets Tax Credit.
04/11/13
An act to add Section 26011.9 to the Public Resources Code, and to add Section 18410.3 to, and to add and repeal Sections 12283, 17053.9, and 23622.9 of, the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
Assembly
09/04/14
08/22/14

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
09/29/14 Vetoed by Governor.
09/10/14 Enrolled and presented to the Governor at 4 p.m.
08/29/14 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 74. Noes 2. Page 6718.).
08/29/14 Assembly Rule 63 suspended. (Page 6717.)
08/29/14 From committee: That the Senate amendments be concurred in. (Ayes 9. Noes 0.) (August 29).
Governor's Veto Message
To the Members of the California State Assembly:

I am returning Assembly Bill 1399 without my signature.

This bill creates a new markets tax credit that will cost --over time-- $200 million.

I certainly endorse programs that result in private investments to help low income areas, but a bill to spend this much should be considered with other priorities during the annual budget.

Sincerely,



Edmund G. Brown Jr.