BILL NUMBER: SBX6 19	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Florez

                        MAY 26, 2010

   An act to add Section 19567 to the Revenue and Taxation Code,
relating to the Franchise Tax Board.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 19, as introduced, Florez. Franchise Tax Board: tax expenditure
reporting.
   Existing law authorizes the Franchise Tax Board, as part of its
administrative duties with respect to the collection of taxes, to
furnish specified taxpayer information. Existing law generally
provides that all taxpayer information obtained by the board is to
remain confidential. Existing law provides exceptions to this general
requirement.
   This bill would, notwithstanding existing law, require the
Franchise Tax Board to annually compile specified information
relating to a corporation receiving credits of $20,000 or more,
allowed from corporate tax expenditures, as provided. The bill would
require the board to include the information in the California Income
Tax Expenditure Report and on the state transparency Internet Web
site.
   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 19567 is added to the Revenue and Taxation
Code, to read:
   19567.  (a) For purposes of this section, "corporate tax
expenditure" means any credit allowed under Part 11 (commencing with
Section 23001) or otherwise available to a corporation.
   (b) Notwithstanding any other law, the Franchise Tax Board shall
annually compile all of the following information, commencing with
information based on the 2010 taxable year:
   (1) The name, mailing address, and California corporation number
when applicable of any taxpayer receiving credits of twenty thousand
dollars ($20,000) or more allowed from corporate tax expenditures.
   (2) The amount claimed by each taxpayer for the corporate tax
expenditure.
   (c) The information collected by the Franchise Tax Board pursuant
to subdivision (b) shall be included in a timely manner on the state
Reporting Transparency in Government Internet Web site.
   (1) The information shall be compiled on a credit-by-credit basis
and searchable by taxpayer name, corporation number when available,
expenditure type, and key word.
   (A) The corporation's name.
   (B) The California corporation number, when applicable.
   (C) The name of the tax credit claimed.
   (D) The amount of the tax credit claimed.
   (E) A description of the initial justification for the
expenditure.
   (2) All data shall be available for download by the public on the
state Reporting Transparency in Government Internet Web site in Excel
or comparable spreadsheet format.