CaliforniaPersonal Income Tax Law: Corporation Tax Law: insurance tax law: low-income housing tax credit:
What it does
Existing law establishes a low-income housing tax credit program pursuant to which the California Tax Credit Allocation Committee (CTCAC) provides procedures and requirements for the allocation, in modified conformity with federal law, of state insurance, personal income, and corporation tax credit amounts to qualified low-income housing projects that have been allocated, or qualify for, a federal low-income housing tax credit, and farmworker housing. Existing law limits the total annual amount of the state low-income housing credit for which a federal low-income housing credit is required, as specified. That law authorizes a taxpayer to make an election in its application to the CTCAC to sell all or any portion of any credit allowed.
More detail
This bill would instead authorize a taxpayer to make that election in the manner prescribed by the CTCAC, as provided.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Oct 10Chaptered by Secretary of State - Chapter 492, Statutes of 2025.Latest
- Oct 10Approved by the Governor Gavin Newsom.Became Law
- Sep 11Enrolled and presented to the Governor at 4 p.m.To Governor
- Sep 4In Assembly. Ordered to Engrossing and Enrolling.Minor
- Vote recorded Special Consent AB480 Quirk-Silva By McNerney. Result: pass.Upper
- Sep 4Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2521.).Passed Senate
- Sep 2Ordered to special consent calendar.
- Aug 29Read second time. Ordered to third reading.Minor
- Vote recorded Do pass. Result: pass.Upper
- Aug 29From committee: Do pass. (Ayes 7. Noes 0.) (August 29).Minor
- Aug 25In committee: Referred to suspense file.Minor
- Vote recorded Placed on suspense file. Result: pass.Upper
- Aug 13In committee: Hearing postponed by committee.
- Jul 9From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 5. Noes 0.) (July 9). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar. Result: pass.Upper
- Jun 18From committee: Do pass and re-refer to Com. on REV. & TAX. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (June 17). Re-referred to Com. on REV. & TAX.Minor
- Jun 17
- Vote recorded Do pass, but first be re-referred to the Committee on [Revenue and Taxation] with the recommendation: To Consent Calendar. Result: pass.Upper
- Jun 11Referred to Coms. on HOUSING and REV. & TAX.Minor
- Jun 3In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Jun 2Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 1832.)Passed Assembly
- Vote recorded AB 480 Quirk-Silva Assembly Third Reading. Result: pass.Lower
- May 27Read second time. Ordered to third reading.Minor
- May 23From committee: Do pass. (Ayes 14. Noes 0.) (May 23).Minor
- Vote recorded Do pass. Result: pass.Lower
- May 21Joint Rule 62(a), file notice suspended. (Page 1627.)
- May 21In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- May 14In committee: Hearing postponed by committee.
- Apr 29From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 28). Re-referred to Com. on APPR.Minor
- Apr 28In committee: Set, first hearing. Referred to REV. & TAX. suspense file.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 21In committee: Hearing postponed by committee.
- Mar 26From committee: Do pass and re-refer to Com. on REV. & TAX. with recommendation: To Consent Calendar. (Ayes 10. Noes 0.) (March 26). Re-referred to Com. on REV. & TAX.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Revenue and Taxation] with recommendation: To Consent Calendar. Result: pass.Lower
- Mar 3Re-referred to Coms. on H. & C.D. and REV. & TAX. pursuant to Assembly Rule 96.Minor
- Feb 24Referred to Coms. on REV. & TAX. and H. & C.D.Minor
- Feb 11From printer. May be heard in committee March 13.
- Feb 10Read first time. To print.Introduced