BILL ANALYSIS Ó
SENATE COMMITTEE ON APPROPRIATIONS
Senator Ricardo Lara, Chair
2015 - 2016 Regular Session
AB 428 (Nazarian) - Income taxes: credit: seismic retrofits.
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|Version: June 17, 2015 |Policy Vote: GOV. & F. 6 - 1 |
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|Urgency: Yes |Mandate: No |
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|Hearing Date: August 27, 2015 |Consultant: Robert Ingenito |
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*********** ANALYSIS ADDENDUM - SUSPENSE FILE ***********
The following information is revised to reflect amendments
adopted by the committee on August 27, 2015
Bill
Summary: AB 428 would allow a tax credit equal to 30 percent of
a qualified taxpayer's qualified costs incurred for seismic
retrofit construction.
Fiscal
Impact:
The Franchise Tax Board (FTB) estimates that the bill
would result in General Fund revenue losses of $700,000 in
2016-17, $2.7 million in 2017-18, and $4.6 million in
2018-19.
FTB staff estimate that the bill would result in
increased costs of $255,000 in 2015-16 and $128,000
annually thereafter (General Fund), resulting from new
administration and information technology workload.
AB 428 (Nazarian) Page 1 of
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Author
Amendments: Specify goals and objectives of the tax credit.
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