California Legislature—2013–14 Regular Session

Assembly Bill No. 1786

Introduced by Assembly Member Olsen

(Coauthor: Senator Correa)

February 18, 2014

An act relating to taxation.

LEGISLATIVE COUNSEL’S DIGEST

AB 1786, as introduced, Olsen. Income taxes: credit.

The Personal Income Tax Law allows various credits against the taxes imposed by those laws.

This bill would state that it is the intent of the Legislature to enact legislation that would allow a credit against the taxes imposed by the Personal Income Tax Law or a deduction from gross income for the cost of education-related expenses of the taxpayer’s dependent child attending public or private school.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

SECTION 1.  

It is the intent of the Legislature to enact
legislation to allow a credit against the taxes imposed by the
Personal Income Tax Law or a deduction from gross income for
the cost of education-related expenses of the taxpayer’s dependent
child attending public or private school by allowing a
nonrefundable credit in the amount of $500 to families with income
of 200 percent or less of the federal Reduced Price Lunch Program
guidelines, and allowing a deduction from gross income in the
amount of $2,500 to families with income of more than 200 percent
and 300 percent or less of the federal Reduced Price Lunch
Program guidelines.