CA SB 1113
Status unknownCorporate tax: exclusions: qualifying shipping activities.
California · 2025-2026 Regular Session · upper
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Quick answers
Did CA SB 1113 pass?
The current status of CA SB 1113 is not known from the official record. Latest recorded action (2026-05-14): May 14 hearing: Held in committee and under submission.
What is CA SB 1113 about?
The Corporation Tax Law, in conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. Existing federal income tax law authorizes a qualifying vessel operator, as defined, to elect to determine its corporate tax burden for specified international shipping activities using a per-ton rate and provides an exclusion from gross income for qualifying shipping activities of an electing corporation or a member of an electing group, as specified. This bill, for taxable years beginning on or after January 1, 2026, would provide an exclusion from gross income for qualifying shipping activities of an electing corporation or a member of an electing group for which an election is in effect under the above-described federal law, as specified. The bill would also provide special rules relating to depreciation and basis of a qualifying vessel, as defined, and would, in conformity with federal income tax laws, provide for the nonrecognition of gain from the disposition of a qualifying vessel where the electing corporation acquires a replacement qualifying vessel, as provided. This bill would take effect immediately as a tax levy.
Who sponsors CA SB 1113?
Valladares is the primary sponsor of CA SB 1113.
Description
The Corporation Tax Law, in conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. Existing federal income tax law authorizes a qualifying vessel operator, as defined, to elect to determine its corporate tax burden for specified international shipping activities using a per-ton rate and provides an exclusion from gross income for qualifying shipping activities of an electing corporation or a member of an electing group, as specified. This bill, for taxable years beginning on or after January 1, 2026, would provide an exclusion from gross income for qualifying shipping activities of an electing corporation or a member of an electing group for which an election is in effect under the above-described federal law, as specified. The bill would also provide special rules relating to depreciation and basis of a qualifying vessel, as defined, and would, in conformity with federal income tax laws, provide for the nonrecognition of gain from the disposition of a qualifying vessel where the electing corporation acquires a replacement qualifying vessel, as provided. This bill would take effect immediately as a tax levy.
- Introduced
- 2026-02-17
- Latest action
- 2026-05-14 — May 14 hearing: Held in committee and under submission.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Valladaresauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-05-14
May 14 hearing: Held in committee and under submission.
2026-05-12
Set for hearing May 14.
2026-05-11
May 11 hearing: Placed on APPR. suspense file.
2026-05-07
Set for hearing May 11.
2026-05-06
From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 4154.) (May 6). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2026-04-09
Set for hearing May 6.
2026-04-08
Re-referred to Com. on REV. & TAX.
referral-committee
2026-03-23
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-02-26
Referred to Com. on RLS.
referral-committee
2026-02-18
From printer. May be acted upon on or after March 20.
2026-02-17
Introduced. Read first time. To Com. on RLS. for assignment. To print.
introduction,reading-1,referral-committee
Versions
Documents
- application/pdf
- application/pdf
- text/html
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
Votes
Do pass, but first be re-referred to the Committee on [Appropriations]
2026-05-06 · pass · 5-0
Member-level votes (5)
- Grayson: yes
- Ashby: yes
- Becker: yes
- Alvarado-Gil: yes
- McNerney: yes
Placed on suspense file
2026-05-11 · pass · 7-0
Member-level votes (7)
- Cabaldon: yes
- Dahle: yes
- Richardson: yes
- Cervantes: yes
- Grayson: yes
- Seyarto: yes
- Wahab: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-10-28T01:51:12.981720Z
Inspect retained evidence for changes recorded after evidence tracking began:
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