SB 317, as introduced, Calderon. Tax credits: annual reports.
Existing law requires the Legislative Analyst’s Office to provide the Assembly Committee on Revenue and Taxation, the Senate Committee on Governance and Finance, and the public a report evaluating the economic effects and administration of specified tax credits.
This bill would make technical, nonsubstantive changes to that provision and would repeal duplicate provisions of law.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 38.7 of the Revenue and Taxation Code,
2as added by Section 1 of Chapter 841 of the Statutes of 2012, is
3amended to read:
(a) On or before January 1, 2016, the Legislative
5Analyst’s Office shall provide to the Assembly Committee on
6Revenue and Taxation, the Senate Committee on Governance and
7Finance, and the public a report evaluating the economic effects
8and administration of the tax credits allowed pursuant to Sections
96902.5, 17053.85, and 23685. In researching the reports, the
10Legislative Analyst’s Office may dobegin delete all ofend delete the following:
P2 1(1) Request and receivebegin delete allend delete information provided to the
2California Film Commission pursuant to subdivision (g) of Sections
317053.85 and 23685.
4(2) Request and receivebegin delete allend delete
information provided to the Franchise
5Tax Board relating to the sale or assignment of credits pursuant
6to subdivision (c) of Sections 17053.85 and 23685.
7(3) Request and receivebegin delete allend delete information provided to the board
8pursuant to subdivisions (c) and (g) of Section 6902.5.
9(b) The California Film Commission, the board, the Franchise
10Tax Board, the Employment Development Department, and all
11other relevant state agencies shall provide additional information,
12as specified by the Legislative Analyst’s Office, as needed to
13research the reports required by this section.
14(c) (1) The information received by the Legislative Analyst’s
15Office pursuant to this section shall be considered confidential
16taxpayer
information subject to Sections 7056, 7056.5, and 19542
17of this code and Section 1094 of the Unemployment Insurance
18Code, and shall be subject to the appropriate confidentiality
19requirements of the participating state agency.
20(2) The Legislative Analyst’s Office may publish statistics in
21conjunction with the reports required by this section that are
22derived from information provided to the Legislative Analyst’s
23Office pursuant to this section if the published statistics are
24classified to prevent the identification of particular taxpayers,
25reports, and tax returns and the publication of the percentage of
26dividends paid by a corporation that is deductible by the recipient
27under Part 11 (commencing with Section 23001) of Division 2.
Section 38.7 of the Revenue and Taxation Code, as
29added by Section 1 of Chapter 840 of the Statutes of 2012, is
30repealed.
(a) On or before January 1, 2016, the Legislative
32Analyst’s Office shall provide to the Assembly Committee on
33Revenue and Taxation, the Senate Committee on Governance and
34Finance, and the public a report evaluating the economic effects
35and administration of the tax credits allowed pursuant to Sections
366902.5, 17053.85, and 23685. In researching the reports, the
37Legislative Analyst’s Office may do all of the following:
38(1) Request and receive all information provided to the
39California Film Commission pursuant to subdivision (g) of Sections
4017053.85 and 23685.
P3 1(2) Request and receive all information provided to the Franchise
2Tax Board relating
to the sale or assignment of credits pursuant
3to subdivision (c) of Sections 17053.85 and 23685.
4(3) Request and receive all information provided to the board
5pursuant to subdivisions (c) and (g) of Section 6902.5.
6(b) The California Film Commission, the board, the Franchise
7Tax Board, the Employment Development Department, and all
8other relevant state agencies shall provide additional information,
9as specified by the Legislative Analyst’s Office, as needed to
10research the reports required by this section.
11(c) (1) The information received by the Legislative Analyst’s
12Office pursuant to this section shall be considered confidential
13taxpayer information subject to Sections 7056, 7056.5, and 19542
14of this code and Section 1094 of the Unemployment Insurance
15Code, and shall be subject to the
appropriate confidentiality
16requirements of the participating state agency.
17(2) The Legislative Analyst’s Office may publish statistics in
18conjunction with the reports required by this section that are
19derived from information provided to the Legislative Analyst’s
20Office pursuant to this section if the published statistics are
21classified to prevent the identification of particular taxpayers,
22reports, and tax returns and the publication of the percentage of
23dividends paid by a corporation that is deductible by the recipient
24under Part 11 (commencing with Section 23001) of Division 2.
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