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SB-611 Personal income taxes: computation of taxable income.(2021-2022)

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Date Published: 02/19/2021 04:00 AM
SB611:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Senate Bill
No. 611


Introduced by Senator Allen

February 18, 2021


An act to amend Section 17206 of the Revenue and Taxation Code, relating to taxation.


LEGISLATIVE COUNSEL'S DIGEST


SB 611, as introduced, Allen. Personal income taxes: computation of taxable income.
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions in calculating taxable income, including a deduction for charitable contributions, as provided. Under existing law, a taxpayer may elect to treat specified contributions made in January 2005, as if that contribution was made on December 31, 2004.
This bill would make a nonsubstantive change to this latter provision.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 17206 of the Revenue and Taxation Code is amended to read:

17206.
 (a) For purposes of Section 17201, Section 170 of the Internal Revenue Code, relating to charitable, etc., contributions and gifts, shall be applied to allow a taxpayer to elect to treat any contribution described in subdivision (b) made in January 2005, as if that the contribution was made on December 31, 2004, and not in January 2005.
(b) A contribution is described in this subdivision if that contribution is a cash contribution made for the relief of victims in areas affected by the December 26, 2004, Indian Ocean tsunami for which a charitable contribution deduction is allowable under Section 17201.