LEGISLATIVE COUNSEL'S DIGEST


SB 1272, as amended, Wolk. Income and corporation taxes: credits:
information and operative limitations.
Existing law imposes various taxes and allows specified credits,
deductions, exclusions, and exemptions in computing those taxes.
This bill would, for taxable years beginning on or after January
1, 2011, require any bill that would authorize a personal income or
corporation tax credit to contain, among other provisions, (1)
specified goals, purposes, and objectives that the tax credit will
achieve, (2) detailed performance indicators to measure whether the
tax credit is meeting those goals, purposes, and objectives, and (3)
a requirement that the tax credit cease to be operative 7 t
axable years after its effective date, as specified.

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Comments/questions on SB 1272 (Wolk): Income and corporation taxes: credits: information and operative limitations.