BILL NUMBER: AB 1552	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Silva

                        JANUARY 26, 2012

   An act to add Sections 17239 and 24356.9 to the Revenue and
Taxation Code, relating to taxation, to take effect immediately, tax
levy.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1552, as introduced, Silva. Income taxes: deductions:
Mello-Roos.
   The Personal Income Tax Law and the Corporation Tax Law authorize
various deductions in computing income that is subject to tax under
those laws.
   This bill would allow a deduction, under both of those laws, of
amounts paid under the Mello-Roos Community Facilities Act of 1982.
   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 17239 is added to the Revenue and Taxation
Code, to read:
   17239.  For each taxable year beginning on or after January 1,
2012, there shall be allowed as a deduction the amount paid by the
taxpayer pursuant to the Mello-Roos Community Facilities Act of 1982
(Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2
of Title 5 of the Government Code).
  SEC. 2.  Section 24356.9 is added to the Revenue and Taxation Code,
to read:
   24356.9.  For each taxable year beginning on or after January 1,
2012, there shall be allowed as a deduction the amount paid by the
taxpayer pursuant to the Mello-Roos Community Facilities Act of 1982
(Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2
of Title 5 of the Government Code).
  SEC. 3.  This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.