Insurance taxes: income taxes: credits: community development financial institution investments.
It became law on Oct 7, 2013.
- Stage
- Became law
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Oct 7, 2013
What it does
Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2017, a credit in an amount equal to 20% of a qualified investment, as defined, made into a community development financial institution, as defined, but not to exceed, in the aggregate amount under all those laws, $10,000,000 per year. Existing law provides that a credit shall not be allowed under those laws unless the California Organized Investment Network certifies that the investment made by the taxpayer is a qualified investment, as defined. Existing law requires a community development financial institution to apply to the California Organized…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- John A. Pérez
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.