SB 413, as introduced, Knight. Personal income taxes: credit: STEM teachers.
The Personal Income Tax Law allows various credits against the taxes imposed by that law.
This bill would, for taxable years beginning on or after January 1, 2013, and before January 1, 2018, allow a credit in the amount of either $1,000 for an eligible science, technology, engineering, or mathematics (STEM) teacher that teaches one or more STEM courses in any kindergarten or any of grades 1 to 12, inclusive, during an academic year ending in the taxable year, or $1,500 for those eligible STEM teachers who teach in a high-needs school, as defined.
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 17053.51 is added to the Revenue and
2Taxation Code, to read:
(a) (1) For each taxable year beginning on or after
4January 1, 2013, and before January 1, 2018, there shall be allowed
5as a credit against the “net tax,” as defined in Section 17039, an
6amount specified in paragraph (2) for an eligible science,
P2 1technology, engineering, or mathematics (STEM) teacher that
2teaches one or more STEM courses in any kindergarten or any of
3grades 1 to 12, inclusive, during an academic year ending in the
4taxable year.
5(2) (A) The amount of credit allowed to an eligible STEM
6teacher who does not teach in a high-needs school shall be one
7thousand dollars ($1,000) for each taxable year.
8(B) The amount of credit
allowed to an eligible STEM teacher
9who teaches in a high-needs school shall be one thousand five
10hundred dollars ($1,500) for each taxable year.
11(b) For purposes of this section:
12(1) “Eligible STEM teacher” means a person who received his
13or her baccalaureate degree in a STEM field who teaches full time
14in an elementary or secondary school.
15(2) “Full time” means a minimum of 35 hours per week worked.
16(3) “High-needs school” means a school that received funds
17from Subchapter I (commencing with Section 6301) of Chapter
1870 of Title 20 of the United States Code, or its successor.
19(c) In the case where the credit allowed by this section exceeds
20the “net tax” the excess may be carried over to
reduce the “net
21tax” in the following year, and succeeding years if necessary, until
22the credit is exhausted.
23(d) This section shall remain in effect only until December 1,
242018, and as of that date is repealed.
This act provides for a tax levy within the meaning
26of Article IV of the Constitution and shall go into immediate effect.
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