BILL NUMBER: SB 358	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Cannella

                        FEBRUARY 15, 2011

   An act to add Sections 17158 and 24316 to the Revenue and Taxation
Code, relating to taxation, to take effect immediately, tax levy.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 358, as introduced, Cannella. Income tax: gross income:
exclusion: air quality funds.
   The Personal Income Tax Law and the Corporation Tax Law define
gross income as all income from whatever source derived, unless
specifically excluded.
   This bill would exclude from gross income any amount provided to a
person by the State Air Resources Board for the purpose of air
pollution reduction.
   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 1.  Section 17158 is added to the Revenue and Taxation
Code, to read:
   17158.  Gross income shall not include any amount provided by the
State Air Resources Board to any person for the purpose of air
pollution reduction.
  SEC. 2.  Section 24316 is added to the Revenue and Taxation Code,
to read:
   24316.  Gross income shall not include any amount provided by the
State Air Resources Board to any person for the purpose of air
pollution reduction.
  SEC. 3.  This act provides for a tax levy within the meaning of
Article IV of the Constitution and shall go into immediate effect.