Bill > AB158

This bill makes several changes to California's Personal Income Tax Law and Corporation Tax Law: 1. It allows a new refundable tax credit for individuals who pay dues to a labor organization, with the credit amount based on the amount of dues paid. The Legislature intends the credit to be designed to limit the annual revenue loss to no more than $400 million. 2. It makes non-substantive clarifying changes to the small business hiring credit provisions. 3. It provides that the exclusion from gross income for Paycheck Protection Program loan forgiveness applies retroactively to tax years beginning on or after January 1, 2019. 4. It requires data sharing between state agencies and the Franchise Tax Board to help identify individuals eligible for the California Earned Income Tax Credit and other state and federal antipoverty tax credits, and authorizes the Franchise Tax Board to disclose certain tax information to those agencies for outreach purposes. 5. It transfers responsibility for making Better for Families Tax Refund payments from the Controller to the Franchise Tax Board. The bill also includes findings related to a gift of public funds and provisions related to state-mandated local costs.

Budget and Finance

Budget (Assembly)

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202120220AB158