BILL NUMBER: AB 2422	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Nestande

                        FEBRUARY 21, 2014

   An act relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2422, as introduced, Nestande. Corporation tax: credits.
   The Corporation Tax Law allows various credits against the taxes
imposed by those laws.
   This bill would state that it is the intent of the Legislature to
enact legislation to allow a credit against the tax imposed by the
Corporation Tax Law in the amount of 50% of a charitable donation to
a nonprofit educational improvement organization that supports
innovative programs in the arts or science, technology, engineering,
and math learning for students in kindergarten or grades 1 to 12,
inclusive, that attend public or private schools located in
attendance areas with a high concentration of students from
low-income families.
   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 to allow a credit against the tax imposed by the
Corporation Tax Law in the amount of 50 percent of a charitable
donation to a nonprofit educational improvement organization that
supports innovative programs in the arts or science, technology,
engineering, and math learning for students in kindergarten or grades
1 to 12, inclusive, that attend public or private schools located in
attendance areas with a high concentration of students from
low-income families. It is the intent of the Legislature that this
credit would not exceed $200,000 per taxpayer, be awarded on a
first-come, first-serve basis, and have an aggregate cap of
$50,000,000.