BILL NUMBER: AB 1944	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Jones

                        FEBRUARY 12, 2016

   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 1944, as introduced, Jones. Personal Income Tax Law: gross
income exclusion: Olympic and Paralympic Games.
   The Personal Income Tax Law provides for various exclusions from
gross income, including a reward from a crime hotline.
   This bill would, for taxable years beginning on or after January
1, 2016, and before January 1, 2025, 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,
2016, and before January 1, 2025, 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)  This section shall remain in effect only until December 1,
2025, and as of that date is repealed, unless a later enacted
statute, that is enacted before December 1, 2025, 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.