SUPPORT
H.R. 976 (RANGEL; R- NY 15) To amend the Internal Revenue Code of 1986 to provide tax relief for small businesses, and for other purposes.
Small Business Tax Relief Act of 2007 – Amends Internal Revenue Code provisions relating to small business to: (1) extend through 2008 the work opportunity tax credit: (2) qualify certain individuals between the ages of 18 and 40 living in an empowerment zone, enterprise community, or renewal community for the work opportunity tax credit and expand the eligibility for, and amount of, such credit for certain disabled veterans; (3) increase to $125,000 (adjusted for inflation) the expensing allowance for small business assets and extend such increased allowance through 2010; (4) allow employers to claim a business tax credit for social security taxes paid with respect to employee cash tips without regard to any increase in the federal minimum wage rate;
Status: Second reading, on calendar
AB 84 (NAKANISHI, R- LODI) Income tax: health savings accounts.
This bill would allow a deduction in connection with health savings accounts in conformity with federal law. In general, the deduction would be an amount equal to the aggregate amount paid in cash during the taxable year by or on behalf of an eligible individual, as defined, to a health savings account of that individual, as provided. This bill would also provide related conformity to that federal law with respect to treatment of the account as a tax-exempt trust, the allowance of rollovers from Archer Medical Savings Accounts to a health savings account, and penalties in connection therewith.
Status: ASM REVENUE AND TAXATION, Second Hearing; Held under submission
OPPOSE
AB 338 (COTO, D-SAN JOSE) Workers' compensation: temporary disability
Requires the Administrative Director of the Division of Workers` Compensation to prepare a report on or before 1/1/2008 evaluating the use of electronic means of benefit payment to migratory and seasonal farmworkers.
Status: Senate Third Hearing
AB 952 (MULLIN, D- SAN MATEO) Minority to veto increases to HOA budgets
Would allow a mere handful of owners to VETO any increase of a homeowner association assessment (excluding emergency assessments) where the majority of homeowners have determined that an assessment increase of more than 20% of the current assessment is necessary to maintain the value of their homes.
Status: Senate Third Hearing
SB 1014 (KUEHL, D- LOS ANGELES) Taxation: single-payer health care coverage tax.
This bill would also impose a health care coverage tax, at an unspecified rate, on the wages of an employee to be paid by both the employee and his or her employer, as provided. This bill would require that all revenues derived from the payroll health care coverage taxes be transmitted to the Treasurer to be deposited in the Health Insurance Fund. This bill would make an appropriation by requiring that all moneys deposited in the Health Insurance Fund be continuously appropriated to the California Health Insurance Agency for purposes of administering health care benefits under the California Health Insurance System, as defined.
Status: SEN Revenue and Taxation
H.R. 976 (RANGEL; R- NY 15) To amend the Internal Revenue Code of 1986 to provide tax relief for small businesses, and for other purposes.
Small Business Tax Relief Act of 2007 – Amends Internal Revenue Code provisions relating to small business to: (1) extend through 2008 the work opportunity tax credit: (2) qualify certain individuals between the ages of 18 and 40 living in an empowerment zone, enterprise community, or renewal community for the work opportunity tax credit and expand the eligibility for, and amount of, such credit for certain disabled veterans; (3) increase to $125,000 (adjusted for inflation) the expensing allowance for small business assets and extend such increased allowance through 2010; (4) allow employers to claim a business tax credit for social security taxes paid with respect to employee cash tips without regard to any increase in the federal minimum wage rate;
Status: Second reading, on calendar
AB 84 (NAKANISHI, R- LODI) Income tax: health savings accounts.
This bill would allow a deduction in connection with health savings accounts in conformity with federal law. In general, the deduction would be an amount equal to the aggregate amount paid in cash during the taxable year by or on behalf of an eligible individual, as defined, to a health savings account of that individual, as provided. This bill would also provide related conformity to that federal law with respect to treatment of the account as a tax-exempt trust, the allowance of rollovers from Archer Medical Savings Accounts to a health savings account, and penalties in connection therewith.
Status: ASM REVENUE AND TAXATION, Second Hearing; Held under submission
OPPOSE
AB 338 (COTO, D-SAN JOSE) Workers' compensation: temporary disability
Requires the Administrative Director of the Division of Workers` Compensation to prepare a report on or before 1/1/2008 evaluating the use of electronic means of benefit payment to migratory and seasonal farmworkers.
Status: Senate Third Hearing
AB 952 (MULLIN, D- SAN MATEO) Minority to veto increases to HOA budgets
Would allow a mere handful of owners to VETO any increase of a homeowner association assessment (excluding emergency assessments) where the majority of homeowners have determined that an assessment increase of more than 20% of the current assessment is necessary to maintain the value of their homes.
Status: Senate Third Hearing
SB 1014 (KUEHL, D- LOS ANGELES) Taxation: single-payer health care coverage tax.
This bill would also impose a health care coverage tax, at an unspecified rate, on the wages of an employee to be paid by both the employee and his or her employer, as provided. This bill would require that all revenues derived from the payroll health care coverage taxes be transmitted to the Treasurer to be deposited in the Health Insurance Fund. This bill would make an appropriation by requiring that all moneys deposited in the Health Insurance Fund be continuously appropriated to the California Health Insurance Agency for purposes of administering health care benefits under the California Health Insurance System, as defined.
Status: SEN Revenue and Taxation