The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit against those taxes for taxable years beginning on or after January 1, 2011, in an amount equal to a specified percentage of the qualified expenditures, as defined, attributable to the production of a qualified motion picture in California, or, where the qualified motion picture has relocated to California or is an independent film, as provided. Existing law allows specified qualified taxpayers to elect to assign the credit, requires specified information from qualified taxpayers that apply for a tax credit allocation, and imposes specified duties on the California Film Commission related to the administration of the credits, including a requirement to allocate the tax credits until July 1, 2015, and limits the aggregate amount of credits that may be allocated to qualified motion pictures in any fiscal year to $100,000,000, through the 2014–15 fiscal year. Existing law additionally allows, in lieu of the credits under the Personal Income Tax Law and the Corporation Tax Law for qualified motion pictures, a credit against qualified state sales and use taxes, as provided.
California AB 2026 (20112012) — Income taxes: credits: film: extension.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit against those taxes for taxable years beginning on or after January 1, 2011, in an amount equal to a specified percentage of the qualified expenditures, as defined, attributable to the production of a qualified motion picture in California, or, where the qualified motion picture has relocated to California or is an independent film, as provided. Existing law allows specified qualified taxpayers to elect to assign the credit, requires specified information from qualified taxpayers that apply for a tax credit allocation, and imposes specified duties on the California Film Commission related to the administration of the credits, including a requirement to allocate the tax credits until July 1, 2015, and limits the aggregate amount of credits that may be allocated to qualified motion pictures in any fiscal year to $100,000,000, through the 2014–15 fiscal year. Existing law additionally allows, in lieu of the credits under the Personal Income Tax Law and the Corporation Tax Law for qualified motion pictures, a credit against qualified state sales and use taxes, as provided.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Do pass and be re-referred to the Committee on Appropriations. — 8–0 (pass) · lower
Do pass. — 5–0 (pass) · upper
Sponsors
Fuentes — primary (person)
Alejo — coauthor (person)
Alquist — coauthor (person)
Ammiano — coauthor (person)
Blumenfield — coauthor (person)
Butler — principal coauthor (person)
Campos — principal coauthor (person)
Cannella — coauthor (person)
Correa — coauthor (person)
Davis — coauthor (person)
Fletcher — coauthor (person)
Gatto — principal coauthor (person)
Harkey — coauthor (person)
Lara — coauthor (person)
Lieu — coauthor (person)
Ma — coauthor (person)
Pan — coauthor (person)
Pavley — principal coauthor (person)
Portantino — coauthor (person)
Runner — coauthor (person)
Silva — coauthor (person)
Smyth — coauthor (person)
Solorio — coauthor (person)
Strickland — coauthor (person)
Wieckowski — coauthor (person)
Timeline
The legislative action history — every referral, reading, and vote.
2012-02-23 Read first time. To print. reading-1
2012-02-24 From printer. May be heard in committee March 25.
2012-03-08 Referred to Coms. on REV. & TAX. and A.,E.,S.,T., & I.M. referral-committee
2012-03-12 Re-referred to Coms. on A.,E.,S.,T., & I.M. and REV. & TAX. pursuant to Assembly Rule 96(a). referral-committee
2012-04-17 From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 8. Noes 0.) (April 17). Re-referred to Com. on REV. & TAX. referral-committee, committee-passage, committee-passage-favorable
2012-05-15 In committee: Set, first hearing. Referred to REV. & TAX. suspense file. referral-committee
2012-05-15 From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0.) (May 14). Re-referred to Com. on APPR. referral-committee, committee-passage, committee-passage-favorable
2012-05-25 In committee: Hearing postponed by committee.
2012-08-09 From committee: Do pass as amended. (Ayes 16. Noes 0.) (August 8). amendment-passage, committee-passage, committee-passage-favorable
2012-08-13 Read second time and amended. Ordered to second reading. reading-2, reading-1, amendment-passage
2012-08-14 Read second time. Ordered to third reading. reading-2, reading-1
2012-08-16 Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 4. Page 5962.) reading-3, reading-1, passage
2012-08-16 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2012-08-27 Referred to Com. on RLS. referral-committee
2012-08-27 From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on RLS. reading-2, amendment-introduction, reading-1, amendment-passage, referral-committee
2012-08-28 Re-referred to Com. on GOV. & F. referral-committee
2012-08-29 From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (August 29). Re-referred to Com. on APPR. referral-committee, committee-passage, committee-passage-favorable
2012-08-29 From committee: Do pass. (Ayes 5. Noes 0.) (August 29). committee-passage, committee-passage-favorable
2012-08-30 Read second time. Ordered to third reading. reading-2, reading-1
2012-08-31 Read third time. Urgency clause adopted. Passed. Ordered to the Assembly. (Ayes 33. Noes 2. Page 5053.). reading-3, reading-1, passage
2012-08-31 In Assembly. Concurrence in Senate amendments pending.