BILL NUMBER: AB 33	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Jeffries

                        DECEMBER 4, 2006

   An act to add Section 17053.96 to the Revenue and Taxation Code,
relating to taxation, to take effect immediately, tax levy.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 33, as introduced, Jeffries. Income tax credit: school
transportation costs.
   The Personal Income Tax Law authorizes various credits against the
taxes imposed by that law.
   This bill would allow a credit in an amount equal to 20% of the
school transportation costs, as defined, paid or incurred by the
taxpayer during the taxable year.
   This bill would take effect immediately as a tax levy.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 17053.96 is added to the Revenue and Taxation
Code, to read:
   17053.96.  (a) For each taxable year beginning on or after January
1, 2007, there shall be allowed as a credit against the "net tax,"
as defined by Section 17039, an amount equal to 20 percent of the
school transportation costs paid or incurred by the taxpayer during
the taxable year.
   (b) For purposes of this section, "school transportation costs"
means any costs for transporting any child of the taxpayer, and any
child for whom the taxpayer is the legal guardian, to attend classes
at any school in this state that provides instruction for
kindergarten or grades 1 to 12, inclusive. "School transportation
costs" include any fees or charges imposed by the school or school
district for the transportation.
   (c) In the case where the credit allowed by this section exceeds
the "net tax," the excess may be carried over to reduce the "net tax"
in the following year, and succeeding years if necessary, until the
credit has been exhausted.
  SEC. 2.  This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.