republic-os/legislation/us/states/ca/20132014/ab-32.md

---
type: "Bill"
title: "Insurance taxes: income taxes: credits: community development financial institution investments."
description: "Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2017, a credit in an amount equal to 20% of a qualified investment, as defined, made into a community development financial institution, as defined, but not to exceed, in the aggregate amount under all those laws, $10,000,000 per year. Existing law provides that a credit shall not be allowed under those laws unless the California Organized Investment Network certifies that the investment made by the taxpayer is a qualified investment, as defined. Existing law requires a community development financial institution to apply to the California Organized Investment Network on behalf of the taxpayer for certification of the amount of the investment and the credit amount allocated to the taxpayer."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20132014"
identifier: "AB 32"
citation: "California AB 32 (20132014)"
classification: ["bill"]
subjects: ["Insurance taxes: income taxes: credits: community development financial institution investments."]
status: "enacted"
primary_sponsors: ["John A. Pérez"]
version_count: 8
action_count: 28
vote_count: 8
first_action: "2012-12-03"
last_action: "2013-10-07"
source: "openstates"
source_identifier: "ocd-bill/f7283d1b-c7e7-4a37-bac9-b6d08eba0650"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140AB32"
source_hash: "e3c048027846c62ada74dd587cdd2e8d1d31843b5febdd3aef493c878754b0aa"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California AB 32 (20132014) — Insurance taxes: income taxes: credits: community development financial institution investments.

Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2017, a credit in an amount equal to 20% of a qualified investment, as defined, made into a community development financial institution, as defined, but not to exceed, in the aggregate amount under all those laws, $10,000,000 per year. Existing law provides that a credit shall not be allowed under those laws unless the California Organized Investment Network certifies that the investment made by the taxpayer is a qualified investment, as defined. Existing law requires a community development financial institution to apply to the California Organized Investment Network on behalf of the taxpayer for certification of the amount of the investment and the credit amount allocated to the taxpayer.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **12/03/12 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3299INT)
2. **03/04/13 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3298AMD)
3. **04/17/13 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3297AMD)
4. **08/21/13 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3296AMD)
5. **09/03/13 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3295AMD)
6. **10/07/13 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3293CHP)
7. **AB32** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140AB32)
8. **09/16/13 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140AB32&version=20130AB3294ENR)

## Votes

- Do pass as amended, and re-refer to the Committee on Appropriations. — **7–0** (pass) · upper
- Placed on Appropriations Suspense file. — **7–0** (pass) · upper
- 3rd Reading AB32 John A. Pérez By DeSaulnier — **39–0** (pass) · upper
- AB 32 PÉREZ, J. Assembly Third Reading — **77–1** (pass) · lower
- Do pass and be re-referred to the Committee on Appropriations. — **9–0** (pass) · lower
- AB 32 PÉREZ, J. Concurrence in Senate Amendments — **77–1** (pass) · lower
- Do pass. — **16–0** (pass) · lower
- Do pass as amended. — **7–0** (pass) · upper

## Sponsors

- John A. Pérez — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2012-12-03** Read first time. To print. `reading-1`
- **2012-12-04** From printer. May be heard in committee January 3.
- **2013-01-14** Referred to Com. on REV. & TAX. `referral-committee`
- **2013-03-04** From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended. `amendment-introduction, amendment-passage, reading-2, reading-1`
- **2013-03-05** Re-referred to Com. on REV. & TAX. `referral-committee`
- **2013-04-01** In committee: Set, first hearing. Referred to REV. & TAX. suspense file. `referral-committee`
- **2013-04-17** From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended. `amendment-introduction, amendment-passage, reading-2, reading-1`
- **2013-04-18** Re-referred to Com. on REV. & TAX. `referral-committee`
- **2013-05-14** From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 13). Re-referred to Com. on APPR. `committee-passage-favorable, referral-committee, committee-passage`
- **2013-05-24** In committee: Set, first hearing. Referred to APPR. suspense file. `referral-committee`
- **2013-05-24** From committee: Do pass. (Ayes 16. Noes 0.) (May 24). `committee-passage-favorable, committee-passage`
- **2013-05-24** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2013-05-28** Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 1. Page 1658.) `reading-3, reading-1, passage`
- **2013-05-28** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2013-06-06** Referred to Com. on GOV. & F. `referral-committee`
- **2013-08-20** From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (August 14). `committee-passage-favorable, committee-passage, amendment-passage`
- **2013-08-21** Read second time and amended. Re-referred to Com. on APPR. `amendment-passage, reading-2, reading-1, referral-committee`
- **2013-08-26** In committee: Placed on APPR. suspense file.
- **2013-08-30** From committee: Do pass as amended. (Ayes 7. Noes 0.) (August 30). `committee-passage-favorable, committee-passage, amendment-passage`
- **2013-09-03** Read second time and amended. Ordered to third reading. `reading-2, reading-1, amendment-passage`
- **2013-09-09** Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2232.). `reading-3, reading-1, passage`
- **2013-09-09** In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 11 pursuant to Assembly Rule 77.
- **2013-09-10** Assembly Rule 77 suspended. (Ayes 53. Noes 25. Page 3064.)
- **2013-09-10** Assembly Rule 63 suspended. (Ayes 53. Noes 25. Page 3064.)
- **2013-09-10** Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 1. Page 3069.). `committee-passage-favorable, amendment-passage`
- **2013-09-19** Enrolled and presented to the Governor at 3 p.m.
- **2013-10-07** Approved by the Governor. `executive-signature`
- **2013-10-07** Chaptered by Secretary of State - Chapter 608, Statutes of 2013.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/f7283d1b-c7e7-4a37-bac9-b6d08eba0650`. Confidence: reported (aggregated from official California legislature records).