republic-os/legislation/us/states/ca/20112012/ab-2332.md

---
type: "Bill"
title: "Income taxes: deductions: disaster losses: County of Santa Cruz."
description: "The Personal Income Tax Law and the Corporation Tax Law allow individual and corporate taxpayers to utilize net operating losses and carryovers and carrybacks of those losses for purposes of offsetting their individual and corporate tax liabilities. Existing law, for net operating losses incurred in taxable years beginning on or after January 1, 2008, provides a carryover period of 20 years and allows net operating losses attributable to taxable years beginning on or after January 1, 2013, to be carrybacks to each of the preceding 2 taxable years, as provided. Existing law disallows the deduction for net operating losses and net operating loss carryovers in the 2008 to 2011, inclusive, taxable years for a taxpayer with over a specified amount of business income and extends the carryover period for those net operating losses, thus allowing the taxpayer to have the same number of years to utilize the deduction as the taxpayer would have had if the disallowance for those taxable years had not occurred."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20112012"
identifier: "AB 2332"
citation: "California AB 2332 (20112012)"
classification: ["bill"]
subjects: ["Income taxes: deductions: disaster losses: County of Santa Cruz."]
status: "enacted"
primary_sponsors: ["Monning"]
version_count: 5
action_count: 22
vote_count: 5
first_action: "2012-02-24"
last_action: "2012-08-27"
source: "openstates"
source_identifier: "ocd-bill/c306e3ee-4104-4fd9-943c-739a6fee1735"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120AB2332"
source_hash: "84321b83d49be16bd3340265b6a073056737af4319a36ad5294ef1a8cf3c60fd"
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 2332 (20112012) — Income taxes: deductions: disaster losses: County of Santa Cruz.

The Personal Income Tax Law and the Corporation Tax Law allow individual and corporate taxpayers to utilize net operating losses and carryovers and carrybacks of those losses for purposes of offsetting their individual and corporate tax liabilities. Existing law, for net operating losses incurred in taxable years beginning on or after January 1, 2008, provides a carryover period of 20 years and allows net operating losses attributable to taxable years beginning on or after January 1, 2013, to be carrybacks to each of the preceding 2 taxable years, as provided. Existing law disallows the deduction for net operating losses and net operating loss carryovers in the 2008 to 2011, inclusive, taxable years for a taxpayer with over a specified amount of business income and extends the carryover period for those net operating losses, thus allowing the taxpayer to have the same number of years to utilize the deduction as the taxpayer would have had if the disallowance for those taxable years had not occurred.

## Version chain

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

1. **02/24/12 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB2332&version=20110AB233299INT)
2. **04/12/12 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB2332&version=20110AB233298AMD)
3. **08/27/12 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB2332&version=20110AB233296CHP)
4. **AB2332** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120AB2332)
5. **08/13/12 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120AB2332&version=20110AB233297ENR)

## Votes

- Consent Calendar 2nd — **36–0** (pass) · upper
- Do pass, to Consent Calendar. — **17–0** (pass) · lower
- AB 2332 MONNING Consent Calendar Second Day — **70–0** (pass) · lower
- Do pass, but re-refer to the Committee on Appropriations Recommend Consent. — **9–0** (pass) · upper
- Do pass and re-refer to Committee on Appropriations with recommendation: To Consent Calendar. — **8–0** (pass) · lower

## Sponsors

- Monning — primary (person)
- Simitian — coauthor (person)

## Timeline

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

- **2012-02-24** Introduced. To print. `introduction`
- **2012-02-26** From printer. May be heard in committee March 27.
- **2012-02-27** Read first time. `reading-1`
- **2012-03-15** Referred to Com. on REV. & TAX. `referral-committee`
- **2012-04-12** From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended. `reading-2, amendment-introduction, reading-1, amendment-passage`
- **2012-04-16** Re-referred to Com. on REV. & TAX. `referral-committee`
- **2012-04-16** In committee: Set, first hearing. Hearing canceled at the request of author.
- **2012-04-23** In committee: Hearing postponed by committee.
- **2012-05-08** From committee: Do pass and re-refer to Com. on APPR. with recommendation: to consent calendar. (Ayes 8. Noes 0.) (May 7). Re-referred to Com. on APPR. `referral-committee, committee-passage, committee-passage-favorable`
- **2012-05-16** From committee: Do pass. To consent calendar. (Ayes 17. Noes 0.) (May 16). `committee-passage, committee-passage-favorable`
- **2012-05-17** Read second time. Ordered to consent calendar. `reading-2, reading-1`
- **2012-05-25** Read third time. Passed. Ordered to the Senate. (Ayes 70. Noes 0. Page 4986.) `reading-3, reading-1, passage`
- **2012-05-25** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2012-06-07** Referred to Com. on GOV. & F. `referral-committee`
- **2012-06-28** From committee: Do pass and re-refer to Com. on APPR. with recommendation: to consent calendar. (Ayes 9. Noes 0.) (June 28). Re-referred to Com. on APPR. `referral-committee, committee-passage, committee-passage-favorable`
- **2012-08-06** From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and ordered to consent calendar. `committee-passage`
- **2012-08-07** Read second time. Ordered to consent calendar. `reading-2, reading-1`
- **2012-08-09** Read third time. Passed. Ordered to the Assembly. (Ayes 36. Noes 0. Page 4446.). `reading-3, reading-1, passage`
- **2012-08-09** In Assembly. Ordered to Engrossing and Enrolling. `committee-passage`
- **2012-08-15** Enrolled and presented to the Governor at 3:10 p.m.
- **2012-08-27** Approved by the Governor. `executive-signature`
- **2012-08-27** Chaptered by Secretary of State - Chapter 203, Statutes of 2012.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c306e3ee-4104-4fd9-943c-739a6fee1735`. Confidence: reported (aggregated from official California legislature records).