BILL ANALYSIS �
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|SENATE RULES COMMITTEE | AB 1428|
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THIRD READING
Bill No: AB 1428
Author: Chesbro (D)
Amended: 5/24/11 in Assembly
Vote: 27 - Urgency
SENATE GOVERNANCE & FINANCE COMMITTEE : 9-0, 06/29/11
AYES: Wolk, Huff, DeSaulnier, Fuller, Hancock, Hernandez,
Kehoe, La Malfa, Liu
SENATE APPROPRIATIONS COMMITTEE : Senate Rule 28.8
ASSEMBLY FLOOR : 76-0, 06/01/11 - See last page for vote
SUBJECT : Disaster relief: tsunami
SOURCE : Author
DIGEST : This bill applies excess disaster loss treatment
to victims in Mendocino County of the March 2011 tsunami.
Taxpayers can carry forward 100 percent of losses for 15
years, and claim losses on amended returns.
ANALYSIS : Federal law, which California conforms to,
only allows disaster loss deductions for personal income
taxes that exceed $100 per taxpayer and 10 percent of their
adjusted gross income for the year. Current state and
federal allows taxpayers to deduct them in the year the
loss occurs or in the preceding year by filing an amended
return, but only when the President declares a disaster.
CONTINUED
AB 1428
Page
2
This bill applies excess disaster loss treatment to victims
in Mendocino County of the March, 2011 tsunami. Taxpayers
can carry forward 100 percent of losses for 15 years, and
claim losses on amended returns.
Comments
As introduced, this bill applied to both Del Norte and
Mendocino County. However, on March 16th, 2011, President
Obama declared Del Norte County a federal disaster area,
automatically triggering excess disaster losses for
taxpayers in Del Norte County by virtue of state law's
conformity to federal. Because of the declaration, the
Legislature need only enact a specific statute for
Mendocino County taxpayers.
FISCAL EFFECT : Appropriation: No Fiscal Com.: Yes
Local: No
SUPPORT : (Verified 8/15/11)
Del Norte County Board of Supervisors
Mendocino County Board of Supervisors
ARGUMENTS IN SUPPORT : According to the author, "AB 1428
provides relief for the individuals and companies that were
negatively affected by the Tsunami that occurred March 10th
as a result of the 9.0 earthquake. This measure would help
relieve some of the pressure and allow those who were
affected to carry over losses beyond what they could deduct
in a given year."
ASSEMBLY FLOOR : 76-0, 06/01/11
AYES: Achadjian, Alejo, Allen, Ammiano, Atkins, Beall,
Bill Berryhill, Block, Blumenfield, Bonilla, Bradford,
Brownley, Buchanan, Butler, Charles Calderon, Campos,
Carter, Cedillo, Chesbro, Conway, Cook, Davis, Dickinson,
Donnelly, Eng, Feuer, Fletcher, Fong, Fuentes, Furutani,
Beth Gaines, Galgiani, Gatto, Gordon, Grove, Hagman,
Halderman, Hall, Harkey, Hayashi, Roger Hern�ndez, Hill,
Huber, Hueso, Huffman, Jones, Knight, Lara, Logue, Bonnie
Lowenthal, Ma, Mansoor, Mendoza, Miller, Mitchell,
Monning, Morrell, Nestande, Nielsen, Norby, Olsen, Pan,
AB 1428
Page
3
Perea, Portantino, Silva, Skinner, Smyth, Solorio,
Swanson, Torres, Valadao, Wagner, Wieckowski, Williams,
Yamada, John A. P�rez
NO VOTE RECORDED: Garrick, Gorell, Jeffries, V. Manuel
P�rez
AGB:nl 8/16/11 Senate Floor Analyses
SUPPORT/OPPOSITION: SEE ABOVE
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