Legislative bill watch list July 2021 Tax News

Many tax bills are introduced at the beginning of each legislative season. As bills move through the first house portion of the legislative process, the number of bills that continue to move forward dwindles.  Below are a number of franchise and income tax related bills that have passed to the second house:

  • AB 340 Conformity to Expanded Definition of Higher Education Expenses
  • AB 545 Major Tax Expenditures Research Center
  • AB 742 School Supplies for Homeless Children Voluntary Tax Contribution Fund
  • AB 1065 Mental Health Crisis Prevention Voluntary Tax Contribution Fund
  • AB 1219 Natural Heritage Preservation Tax Credit Act of 2000
  • AB 1515 Earned Income Tax Credit Outreach, Education, and Free Tax Assistance Grant Program
  • AB 1582 Real Estate Withholding on 1031 and Taxpayers' Bill of Rights Report Due Date Change (FTB LPs)
  • SB 65 California Guaranteed Income Pilot Program for Pregnant People and Infants
  • SB 347 The California Community and Neighborhood Tree Voluntary Tax Contribution Fund
  • SB 601 Increase Capital Gain Exclusion for Sale of a Principal Residence to First-Time Homeowners
  • SB 603 Cannabis Equity Business Tax Credit
  • SB 611 CA Motion Picture Credit/ Additional Credit Percentage for for Career Pathways Program Participants

Other bills of interest that have passed to the second house include:

  • AB 105 The Upward Mobility Act of 2021
  • AB 466 Unclaimed Property Data Sharing with the State Controller (FTB LP)
  • AB 1291 Bagley-Keene Act Public Comment Period
  • AB 1429 Agency Records Management Training
  • SB 459 Political Reform Act of 1974: Lobbying Periodic Reporting
  • SB 586 Court Ordered Debt Collection Program

The California legislature sent a state budget to the Governor on June 14, 2021.  For more information on these and other bills we’re currently analyzing, search for legislative information on our website. You can also follow legislative bills by using California Legislative Information website.