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Lots of New Bills

Since tomorrow (2/19) is the deadline to submit new legislation there are a lot of things popping up today.

For example, SB 1086:

Existing law authorizes the Franchise Tax Board, as part of its administrative duties with respect to the collection of taxes, to furnish specified taxpayer information. Existing law generally provides that all taxpayer information obtained by the board is to remain confidential. Existing law provides exceptions to this general requirement.

This bill would, notwithstanding existing law, require the Franchise Tax Board to annually compile information relating to a taxpayer receiving credits of $1,000, allowed from corporate tax expenditures. The bill would require the board to include the information in the California Income Tax Expenditure Report and the state transparency Internet Web site.

It’s not entirely clear what is meant to be accomplished with this legislation. Given that the overriding concern of everyone in Sacramento right now is creating jobs, it must have something to do with encouraging businesses to hire more people, but I can’t quite figure it out yet. Let me know if you have any theories.

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