Personal income taxes: corporation taxes: credits: California New Markets Tax Credit.
This bill failed and is no longer moving.
- Stage
- Failed
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Feb 1, 2022
What it does
Existing federal law allows a New Markets Tax Credit to a taxpayer holding a qualified equity investment in an amount equal to the applicable percentage of the amount paid to the qualified community development entity for investment in low-income communities. The state Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.
Where it stands
This bill failed and is no longer moving.
Failed
This bill failed and is no longer moving.
What moved
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Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- Committee on Jobs, Economic Development, and the Economy
In the news
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.