SB 627, as introduced, Galgiani. Personal income taxes: credit: commuting miles.
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, 2015, allow a credit in an amount computed by multiplying $____ by the total number of the taxpayer’s commuting miles for the taxable year, as provided. This bill would provide that, in those years in which an appropriation is made by the Legislature, when the amount allowable as a credit exceeds the tax payers tax liability the excess amount would be paid to the taxpayer.
This bill would take effect immediately as a tax levy.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 17052.1 is added to the Revenue and
2Taxation Code, to read:
(a) For each taxable year beginning on or after
4January 1, 2015, there shall be allowed a credit against the “net
5tax,” as defined by Section 17039, an amount computed by
P2 1multiplying ____ ($____) by the total number of the taxpayer’s
2commuting miles for the taxable year.
3(b) For purposes of this section, a taxpayer’s commuting miles
4shall be determined in the same manner as those miles are
5determined as nondeductible personal expenses under Section 162
6of the Internal Revenue Code, relating to trade or business expense,
7and Section 262 of the Internal Revenue Code, relating to personal,
8living, and family expenses, and any regulations promulgated or
9guidance provided with regard to those sections.
10(c) (1) Except as provided in paragraph (2), in the case where
11the credit allowed under this section exceeds the “net tax,” the
12excess credit may be carried over to reduce the “net tax” in the
13following taxable year, and succeeding taxable years, if necessary,
14until the credit is exhausted.
15(2) Notwithstanding paragraph (1), for taxable years beginning
16on or after January 1, 2015, if the amount allowable as a credit
17under this section exceeds the tax liability computed under this
18part, the excess shall be credited against other amounts due, if any,
19and the balance, if any, shall, upon appropriation by the Legislature,
20and in consultation with the Air Resources Board, be paid from
21the ____ Fund and paid to the taxpayer.
22(d) Any credit paid to a taxpayer pursuant to this section
shall
23not be included in income subject to tax under this part.
24(e) The Franchise Tax Board may prescribe rules, guidelines,
25or procedures necessary or appropriate to carry out the purposes
26of this section, including any guidelines regarding the
27substantiation of the credit allowed by this section. Chapter 3.5
28(commencing with Section 11340) of Part 1 of Division 3 of Title
292 of the Government Code does not apply to any rule, guideline,
30or procedure prescribed by the Franchise Tax Board pursuant to
31this section.
32(f) Section 41 does not apply to the credit allowed by this
33section.
This act provides for a tax levy within the meaning of
35Article IV of the Constitution and shall go into immediate effect.
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