CaliforniaTaxation: federal conformity.
What it does
Under the Personal Income Tax Law and the Corporation Tax Law, various provisions of the federal Internal Revenue Code, as enacted as of a specified date, are referenced in various sections of the Revenue and Taxation Code. Those laws provide that for taxable years beginning on or after January 1, 2015, the specified date of those referenced Internal Revenue Code sections is January 1, 2015, unless otherwise specifically provided. Existing law requires, for any introduced bill that proposes changes in any of those dates, that the Franchise Tax Board prepare a complete analysis of the bill that describes all changes to state law that will automatically occur by reference to federal law as of the changed date.
More detail
It further requires the Franchise Tax Board to immediately update and supplement that analysis upon any amendment to the bill, and requires that analysis be made available to the public and be submitted to the Legislature for publication in the daily journal of each house of the Legislature.
This bill would change the specified date of those referenced Internal Revenue Code sections to January 1, 2025, for taxable years beginning on or after January 1, 2025, and thereby would make numerous substantive changes to both the Personal Income Tax Law and the Corporation Tax Law with respect to those areas of preexisting conformity that are subject to changes under federal laws enacted after January 1, 2015, and that have not been, or are not being, excepted or modified. This bill would make certain other changes in federal income tax laws applicable, with specified exceptions and modifications, and make specified supplemental, technical, or clarifying changes for purposes of the Personal Income Tax Law or the Corporation Tax Law, or both, or the administration of those laws, with respect to, among other things, tax credits, deductions, net operating losses, Roth IRAs, and capital assets.
This bill would also repeal obsolete provisions.
This bill would declare that it is to take effect immediately as an urgency statute.
Where do you stand?
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Where it stands
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Oct 1Chaptered by Secretary of State. Chapter 231, Statutes of 2025.Latest
- Oct 1Approved by the Governor Gavin Newsom.Became Law
- Sep 22Enrolled and presented to the Governor at 11 a.m.To Governor
- Sep 11Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2875.) Ordered to engrossing and enrolling.Major
- Vote recorded Unfinished Business SB711 McNerney Urgency Clause Concurrence. Result: pass.Upper
- Sep 10
- Vote recorded SB 711 McNerney Third Reading Urgency By McKinnor. Result: pass.Lower
- Sep 9In Senate. Concurrence in Assembly amendments pending.
- Sep 9Read third time. Urgency clause adopted. Passed. (Ayes 58. Noes 1. Page 3130.) Ordered to the Senate.Passed Assembly
- Sep 3Read second time. Ordered to third reading.Minor
- Sep 2Read second time and amended. Ordered to second reading.Major
- Aug 29From committee: Do pass as amended. (Ayes 11. Noes 1.) (August 29).Major
- Vote recorded Do pass as amended. Result: pass.Lower
- Aug 20August 20 set for first hearing. Placed on APPR. suspense file.
- Jul 15From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 1.) (July 14). Re-referred to Com. on APPR.Minor
- Jul 15July 14 set for first hearing. Placed on REV. & TAX. suspense file.
- Jul 14
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Jul 7From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.Major
- Jun 5Referred to Com. on REV. & TAX.Minor
- May 28In Assembly. Read first time. Held at Desk.Minor
- Vote recorded 3rd Reading (Urgency Clause). Result: pass.Upper
- May 28Read third time. Urgency clause adopted. Passed. (Ayes 38. Noes 0. Page 1304.) Ordered to the Assembly.Passed Senate
- May 23Read second time. Ordered to third reading.Minor
- Vote recorded Do pass. Result: pass.Upper
- May 23From committee: Do pass. (Ayes 6. Noes 0. Page 1210.) (May 23).Minor
- May 16Set for hearing May 23.
- May 12May 12 hearing: Placed on APPR. suspense file.
- Vote recorded Placed on suspense file. Result: pass.Upper
- May 2Set for hearing May 12.
- Apr 29Read second time and amended. Re-referred to Com. on APPR.Major
- Apr 28From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 0. Page 873.) (April 23).Major
- Apr 23
- Vote recorded Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]. Result: pass.Upper
- Apr 4Set for hearing April 23.
- Apr 2Re-referred to Com. on REV. & TAX.Minor
- Mar 26From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.Major
- Mar 12Referred to Com. on RLS.Minor
- Feb 24Read first time.Minor
- Feb 24From printer. May be acted upon on or after March 24.
- Feb 21Introduced. To Com. on RLS. for assignment. To print.Introduced