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CA SB 1

Title: Personal Income Tax Law: exclusion: student loan debt.
Author: Scott Thomas Wilk

Summary
SB 1, as amended, Glazer. Personal Income Tax Law: exclusion: student loan debt. The Personal Income Tax Law, in modified conformity with federal income tax law, generally defines “gross income” as income from whatever source derived, except as specifically excluded, including an exclusion for the amount of student loan indebtedness repaid or canceled pursuant to a specified federal law.This bill would exclude from an individual’s gross income, for taxable years beginning on or after January 1, 2021, and before January 1, 2026, the amount of certain student loans discharged, in whole or in part, after December 31, 2020, and before January 1, 2026, in conformity with federal law.Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.This bill would include additional information required for any bill authorizing a new tax expenditure.This bill would make findings and declarations related to a gift of public funds.

Status
May 15 set for first hearing canceled at the request of author.

Bill Documents
CA SB 1 - 05/01/23 - Amended Senate
05/01/23 - CA SB 1 (05/01/23 - Amended Senate)

CA SB 1 - 03/30/23 - Amended Senate
03/30/23 - CA SB 1 (03/30/23 - Amended Senate)
CA SB 1 - 12/05/22 - Introduced
12/05/22 - CA SB 1 (12/05/22 - Introduced)

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Author Details


  • Scott Wilk - R
    Senator - State Senate - CA
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    Capital Address:
    1021 O Street, Suite 7140
    Sacramento, CA 95814-4900
    9166514021

    District Address:
    23920 Valencia Blvd Ste 250
    Santa Clarita, CA 91355 5328
    Phone: 6612861471
    Fax: 6612862543