December 18, 2020 Board Meeting Agenda

Franchise Tax Board Meeting
Friday, December 18, 2020 at 1:30 PM

The public may view the meeting at Franchise Tax Board’s Internet web site and may participate by telephone at 877-336-4440, access code: 6683081.

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Open Session

Pledge of allegiance

Item 1. Approval of minutes

Minutes of the September 18, 2020 meeting – Board approval

Item 2. Legislative Matters

2021 Legislative Proposals – Staff report and Board approval

  1. Modified Conformity to the Federal Alternative Simplified Credit (ASC) and Elimination of the Alternative Incremental Research Credit (AIRC)
  2. Real Estate Withholding/ Internal Revenue Code (IRC) section 1031 Deferred Like-kind Exchange/Failure to Withhold by Qualified Intermediaries (QI)/ Cash-Poor Exchange
  3. Taxation of Income from an Incomplete Gift Non-Grantor (ING) Trust
  4. Taxpayers’ Bill Of Rights Annual Report to the Legislature/Change Due Date From December 1st to January 15th
  5. FTB/SCO Unclaimed Property Checkbox Data Sharing

Item 3. Regulation Matters

2021 Rulemaking Calendar – Staff report and Board approval

Item 4. Administrative Matters

  1. 2021-22 Budget Change Proposals – Board Approval
    1. SB 1447 – Main Street Small Business Tax Credit
    2. AB 1876 – Earned Income Tax Credit/ITINs
  2. Contracts Over $1 Million – Board Approval.
    1. Scanner Refresh
    2. eTime Consulting Services

Item 5. Taxpayers' Bill of Rights Hearing

This annual hearing is held to allow taxpayers as well as industry representatives to present proposals for changes to existing state franchise and income tax laws.

Item 6. Executive Officer's Time

Executive officer's opportunity to report on matters of interest to the Board.

Item 7. Board Members' Time

Members' opportunity to raise other matters of interest.

This facility is architecturally accessible to persons with physical disabilities.

When the circumstances warrant, the Chair may modify the order of the agenda items. As such, please be aware the individual presentation times are subject to change.

This notice, including links to written material related to the Open Session agenda items, is also available on the FTB's website under the heading Public Meeting Notices.

If you have a disability and would like to request reasonable accommodation and/or this material in alternate format, please make your request as soon as possible, but no later than five working days prior to the meeting date. Some alternate formats take longer to produce than others. Therefore, the earlier your request is received, the more likely we can provide the specific alternate format you request.

To place your request, contact FTB’s Accessibility Coordinator:

Voice: 916-845-7003
California Relay Service: 711 or 800-735-2929