BILL NUMBER: AB 902	INTRODUCED
	BILL TEXT


INTRODUCED BY   Committee on Housing and Community Development
(Mendoza (Chair), Harkey (Vice Chair), De La Torre, Eng, Fletcher,
Ma, and Saldana)

                        FEBRUARY 26, 2009

   An act relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 902, as introduced, Committee on Housing and Community
Development. Personal income tax: credits: foreclosed homes.
   The Personal Income Tax Law authorizes various credits against the
taxes imposed by that law.
   This bill would state the intent of the Legislature to enact
legislation authorizing a credit against those taxes for individuals
who purchase a foreclosed home.
   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.  It is the intent of the Legislature to enact
legislation authorizing a credit against the taxes imposed by the
Personal Income Tax Law for individuals who purchase a foreclosed
home.