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Summary of legislation recently signed into law

Continued from page 3

AB 63 (Cedillo) - This act allows us to disclose a taxpayer's name, address, social security or taxpayer identification number, and business activity code to tax officials of a city. Under this act, information has to be provided under a reciprocal agreement between the cities and us (Stats. 2001, Ch. 915).

AB 110 (Zettel) - This act prevents us from imposing the accuracy-related penalty on taxpayers who incorrectly claim the teacher retention credit for the 2000 taxable year (Stats. 2001, Ch. 410).

AB 238 (Rod Pacheco) - This act allows special net operating loss treatment for losses sustained by a farmer as a result of the effects of Pierce's disease (Stats. 2001, Ch. 623).

AB 426 (Cardoza) - This act increases the household income amounts used to determine eligibility and the amount of assistance for the Homeowners and Renters Assistance program. This act affects approximately 300,000 pending claims that have been submitted to us by senior and disabled claimants (Stats. 2001, Ch. 156).

AB 440 (Cardoza) - This act appropriates money into the general fund to pay additional claims for the Homeowners and Renters Assistance program. This act allows us to pay increased claims expected as a result of AB 426. (Stats. 2001, Ch. 197).

AB 816 (Thomson) - This Franchise Tax Board sponsored act repeals the income tax return filing requirement triggered solely by the sale of a principal residence where an individual's income otherwise is below the filing threshold (Stats. 2001, Ch. 164).

AB 866 (Diaz) - This act extends the sunset date for the Employer Child Care Program Credit and the Employer Child Care Contribution Credit to taxable years beginning before January 1, 2007 (Stats. 2001, Ch. 650).

AB 891 (Goldberg) - This act precludes us from collecting child support delinquencies cases where the noncustodial parent is disabled and receiving monthly benefits from either Supplemental Security Income/State Supplementary Payments or Social Security Disability Insurance (Stats. 2001, Ch. 651).

AB 898 (Leach) - This act makes the following changes to the present system of collecting revenue from a limited liability company:
. Repeals the annual study and adjustment of the limited liability company annual fee, and;
. Sets the limited liability company annual fee at a fixed amount (Stats. 2001,Ch. 391).

AB 952 (Kelley) - This act does not tax rebates or vouchers received by a taxpayer for the purchase or installation of water conservation appliances and devices. (Stats. 2001, Ch. 212)

AB 1014 (Papan) - When responding to a California Public Records Act request, this act requires an agency to:
. Estimate the date and time public records would be available to the requester.
• Provide several additional services when assisting the requester (Stats. 2001, Ch. 355).

AB 1115 (Assembly Revenue and Taxation Committee) - This Franchise Tax Board sponsored act:
• Specifies clear, definitive rules that will be applied consistently to all nonresident and part-year resident taxpayers for calculating loss carryovers, deferred deductions, and deferred income.
• Eliminates conflicting statutory language and provides clear and definitive rules for the ordering of credits that are applied against tax.
• Ensures that taxpayers can file refund claims for overpaid income taxes even though the tax was paid through installment payments.
• Removes an inequity in the law by allowing a holder of an interest in a pass-through entity to realize the same tax benefits whether the pass-through entity files on a fiscal year or calendar year basis.
• Authorizes disclosure of confidential taxpayer information to a Franchise Tax Board employee or former Franchise Tax Board employee, a legal representative of such employee, an Administrative Law Judge, or a Superior Court Judge for use in disciplinary actions.
• Makes references to the limited partnership annual tax in the Revenue and Taxation Code correct and consistent (Stats. 2001, Ch. 920).

AB 1116 (Assembly Revenue and Taxation Committee) - This Franchise Tax Board sponsored act:
• Improves the rules by which we propose changes to credits, deductions, and losses that are eligible to be applied against taxpayer income in future years.
• Specifies when a law effecting a
change in income tax withholding will apply (Stats. 2001, Ch. 191).

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November/December 2001

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