ctbillinfo.xls

AB 276   (Friedman D)   Personal income taxes: qualified employer plan: loans: CARES Act.
Status
9/11/2020 - Approved by the Governor. Chaptered by Secretary of State - Chapter 62, Statutes of 2020.

Summary
The Personal Income Tax Law, in partial conformity with federal income tax law, allows a qualified employer plan, as defined, to provide specified loans to a participant or a beneficiary that are not treated as taxable distributions from the plan if specified conditions are met, including that the maximum amount that a plan may permit as a loan does not exceed (1) the greater of $10,000 or 50% of the participant’s vested account balance, or (2) $50,000, whichever is less, and that generally the loan be repaid within 5 years.This bill would, for purposes of the Personal Income Tax Law, provide conformity to those qualified employer plan loan provisions of the federal CARES Act.

This bill contains other related provisions and other existing laws.

 (Based on text date 9/11/2020)

Bill Text
09/11/2020 Chaptered pdf htm  
09/01/2020 Enrolled pdf htm  
07/02/2020 Amended pdf htm  
01/15/2020 Amended pdf htm  
01/06/2020 Amended pdf htm  
03/21/2019 Amended pdf htm  
02/21/2019 Amended pdf htm  
01/28/2019 Introduced pdf htm  

Analysis
08/31/2020  Assembly - Floor Analysis
08/29/2020  Assembly - Floor Analysis
08/21/2020  Senate - Floor Analyses
08/11/2020  Senate - Appropriations
07/24/2020  Senate - Governance And Finance
01/24/2020  Assembly - Floor Analysis
01/21/2020  Assembly - Appropriations
01/13/2020  Assembly - Education
04/01/2019  Assembly - Public Safety
03/11/2019  Assembly - Public Safety

Votes
08/30/2020  Asm. Rev. & Tax   (Y: 11 N: 0 A: 0)  (Pass)
08/30/2020  Asm. Concurrence   (Y: 75 N: 0 A: 4)  (Pass)
08/28/2020  Sen. Special Consent   (Y: 39 N: 0 A: 1)  (Pass)
08/20/2020  Sen. Appr.   (Y: 7 N: 0 A: 0)  (Pass)
08/13/2020  Sen. Appr.   (Y: 7 N: 0 A: 0)  (Pass)
07/29/2020  Sen. Gov. & F.   (Y: 7 N: 0 A: 0)  (Pass)
01/27/2020  Asm. Third Reading   (Y: 74 N: 0 A: 6)  (Pass)
01/23/2020  Asm. Appr.   (Y: 18 N: 0 A: 0)  (Pass)
01/15/2020  Asm. Ed.   (Y: 6 N: 0 A: 1)  (Pass)
01/06/2020  Asm. Rls.   (Y: 12 N: 0 A: 0)  (Pass)

History
09/11/2020  Approved by the Governor. Chaptered by Secretary of State - Chapter 62, Statutes of 2020.
09/08/2020  Enrolled and presented to the Governor at 4:30 p.m.
08/30/2020  Re-referred to Com. on REV. & TAX. pursuant to Assembly Rule 77.2. Joint Rule 62(a), file notice suspended. From committee: That the Senate amendments be concurred in. (Ayes 11. Noes 0.) (August 30). Senate amendments concurred in. To Engrossing and Enrolling.
08/28/2020  Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0.). In Assembly. Concurrence in Senate amendments pending.
08/25/2020  Ordered to special consent calendar.
08/20/2020  From committee: Do pass. (Ayes 7. Noes 0.) (August 20). Read second time. Ordered to third reading.
08/13/2020  In committee: Referred to APPR. suspense file.
07/30/2020  From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (July 29). Re-referred to Com. on APPR.
07/27/2020  Withdrawn from committee. Re-referred to Com. on RLS. Re-referred to Com. on GOV. & F.
07/02/2020  From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on ED.
06/23/2020  Referred to Com. on ED.
01/28/2020  In Senate. Read first time. To Com. on RLS. for assignment.
01/27/2020  Read third time. Passed. Ordered to the Senate. (Ayes 74. Noes 0. Page 3890.)
01/23/2020  In committee: Set, first hearing. Referred to APPR. suspense file. From committee: Do pass. (Ayes 18. Noes 0.) (January 23). Read second time. Ordered to third reading.
01/16/2020  Re-referred to Com. on APPR.
01/15/2020  From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (January 15). Re-referred to Com. on APPR. From committee chair, with author's amendments: Amend, and re-refer to Com. on APPR. Read second time and amended.
01/06/2020  From committee chair, with author's amendments: Amend, and re-refer to Com. on PUB. S. Read second time and amended. Re-referred to Com. on PUB. S. Re-referred to Com. on RLS. pursuant to Assembly Rule 96. From committee: Be re-referred to Com. on ED. Re-referred. (Ayes 12. Noes 0.) (January 6). Re-referred to Com. on ED.
04/02/2019  In committee: Hearing postponed by committee.
03/25/2019  Re-referred to Com. on PUB. S.
03/21/2019  From committee chair, with author's amendments: Amend, and re-refer to Com. on PUB. S. Read second time and amended.
03/19/2019  In committee: Set, second hearing. Hearing canceled at the request of author.
03/12/2019  In committee: Set, first hearing. Hearing canceled at the request of author.
02/25/2019  Re-referred to Com. on PUB. S.
02/21/2019  From committee chair, with author's amendments: Amend, and re-refer to Com. on PUB. S. Read second time and amended.
02/07/2019  Referred to Com. on PUB. S.
01/29/2019  From printer. May be heard in committee February 28.
01/28/2019  Read first time. To print.


10/24/2024 5:33:28 PM