AB 2519, as introduced, Patterson. Personal income taxes: credit: education expenses.
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, 2014, and before January 1, 2018, allow a credit in an amount equal to 50% of the tuition paid or incurred during the taxable year by a California resident taxpayer for education and training obtained at a vocational institution, as defined.
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 17053.51 is added to the Revenue and
2Taxation Code, to read:
(a) For taxable years beginning on or after January
41, 2014, there shall be allowed as a credit against the “net tax,” as
P2 1defined in Section 17039, an amount equal to 50 percent of the
2tuition paid or incurred by a taxpayer during the taxable year for
3education and training obtained at a vocational institution for job
4training and career advancement studies.
5(b) For purposes of this section, “vocational institution” means
6an institution of higher education in which students are taught
7job-specific skills in a variety of fields, including, but not limited
8to, the fields of pharmacy technician or automotive technician.
9(c) In the case where the credit allowed by this section
exceeds
10the “net tax” the excess may be carried over to reduce the “net
11tax” in the following year, and succeeding seven years if necessary,
12until the credit is exhausted.
This act provides for a tax levy within the meaning of
14Article IV of the Constitution and shall go into immediate effect.
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