Bill Text: CA AB2979 | 2023-2024 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Income taxation: exclusion: victim compensation.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Engrossed) 2024-05-22 - In Senate. Read first time. To Com. on RLS. for assignment. [AB2979 Detail]

Download: California-2023-AB2979-Amended.html

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Amended  IN  Assembly  March 18, 2024

CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill

No. 2979

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Introduced by Assembly Member Mike Fong
(Coauthors: Assembly Members Berman, Sanchez, and Ting)

February 16, 2024

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An act to add Section 17131.14 to the Revenue and Taxation Code, relating to taxation. taxation, to take effect immediately, tax levy.

LEGISLATIVE COUNSEL'S DIGEST

AB 2979, as amended, Mike Fong. Income taxation: exclusion: victim compensation.

The Personal Income Tax Law, in modified conformity with federal law, generally defines “gross income” as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income for purposes of computing tax liability.

Existing law generally provides for the reimbursement of victims and derivative victims of specified types of crimes by the California Victim Compensation Board from the Restitution Fund, a continuously appropriated fund, for specified losses suffered as a result of those crimes.

This bill would state the intent of the Legislature to enact subsequent legislation relating to the exclusion of compensation received from the California Victim Compensation Board from the definition of gross income for the purpose of taxation. provide that payments made by the board pursuant to specified law are deemed to be for the promotion of the general welfare and are not included in gross income.

This bill would take effect immediately as a tax levy.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NOYES   Local Program: NO  

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Bill Text

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

SECTION 1.

 Section 17131.14 is added to the Revenue and Taxation Code, to read:

17131.14.

 Payments made by the California Victim Compensation Board pursuant to Sections 13955 and 13970 of the Government Code are deemed to be for the promotion of the general welfare and are not included in gross income.

SEC. 2.

 This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.

SECTION 1.

It is the intent of the Legislature to enact subsequent legislation relating to the exclusion of compensation received from the California Victim Compensation Board from the definition of gross income for the purpose of taxation.