BILL NUMBER: AB 2323	AMENDED
	BILL TEXT

	AMENDED IN SENATE  JUNE 26, 2014
	AMENDED IN ASSEMBLY  MAY 15, 2014
	AMENDED IN ASSEMBLY  MARCH 27, 2014
	AMENDED IN ASSEMBLY  MARCH 20, 2014

INTRODUCED BY   Assembly Member Gorell
   (Coauthors: Assembly Members Bigelow, Dahle, Donnelly, 
and Hagman   Hagman,   and Yamada  )
   (Coauthors: Senators Cannella and Huff)

                        FEBRUARY 21, 2014

   An act to add and repeal Section 17132.10 of the Revenue and
Taxation Code, relating to taxation, to take effect immediately, tax
levy.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 2323, as amended, Gorell. Personal Income Tax Law: gross income
exclusion: Olympic and Paralympic games.
   The Personal Income Tax Law provides for various exclusions from
gross income.
   This bill would, for taxable years beginning on or after January
1, 2014, and  on or before December 31, 2021,  
before January 1, 2022,  also exclude from gross income the
value of any medal given by the International Olympic Committee, and
any prize money or honoraria received from the United States Olympic
Committee, on account of either the Olympic games or the Paralympic
games.
   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 17132.10 is added to the Revenue and Taxation
Code, to read:
   17132.10.  (a) For taxable years beginning on or after January 1,
2014, and  on or before December 31, 2021,  
before January 1, 2022,  gross income shall not include the
value of any medal given by the International Olympic Committee, and
any prize money or honoraria received from the United States Olympic
Committee, on account of the Olympic games or the Paralympic games.

   (b) The section shall apply to medals, prize money, and honoraria
received on or after January 1, 2014.  
   (c) 
    (b)  This section shall remain in effect only until
 January 1,   December 1,  2022, and as of
that date is repealed, unless a later enacted statute, that is
enacted before January 1,   December 1, 
2022, deletes or extends that date.
  SEC. 2.  This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.