BILL NUMBER: AB 638	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Knight

                        FEBRUARY 25, 2009

   An act to amend Section 24401 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 638, as introduced, Knight. Corporation taxes: deductions.
   The Corporation Tax Law specifies that certain deductions are
allowed in computing taxable income.
   This bill would make technical, nonsubstantive changes to those
specification provisions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


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

  SECTION 1.  Section 24401 of the Revenue and Taxation Code is
amended to read:
   24401.  In addition to  the deductions   any
deduction  provided in Article 1 (commencing with Section
24341), there shall be allowed as deductions in computing taxable
income the items specified in this article.