CA SB 1120
Status unknownPersonal Income Tax Law: Corporation Tax Law: credits: CalCompetes.
California · 2025-2026 Regular Session · upper
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Quick answers
Did CA SB 1120 pass?
The current status of CA SB 1120 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 1120 about?
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws including, for taxable years beginning on and after January 1, 2014, and before January 1, 2030, a California Competes Tax Credit in an amount allocated by the Governor's Office of Business and Economic Development (GO-Biz) through the 2027–28 fiscal year, and provided in a written agreement between GO-Biz and the taxpayer, approved by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. This bill would extend the California Competes Tax Credit through taxable years beginning before January 1, 2035, and would make conforming changes to the impacted fiscal year references in those provisions. The bill would, for taxable years beginning on or after January 1, 2026, and before January 1, 2035, also allow a taxpayer in a strategic industry, as defined, to make an election in the form and manner prescribed by GO-Biz for the California Competes Tax Credit to be refundable to the taxpayer from the Tax Relief and Refund Account or the Corporation Tax Fund, as provided. By increasing the payments from the Tax Relief and Refund Account and the Corporation Tax Fund, continuously appropriated funds, the bill would make an appropriation.
Who sponsors CA SB 1120?
McNerney is the primary sponsor of CA SB 1120.
Description
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws including, for taxable years beginning on and after January 1, 2014, and before January 1, 2030, a California Competes Tax Credit in an amount allocated by the Governor's Office of Business and Economic Development (GO-Biz) through the 2027–28 fiscal year, and provided in a written agreement between GO-Biz and the taxpayer, approved by the California Competes Tax Credit Committee, and based on specified factors, including the number of jobs the taxpayer will create or retain in the state and the amount of investment in the state by the taxpayer. This bill would extend the California Competes Tax Credit through taxable years beginning before January 1, 2035, and would make conforming changes to the impacted fiscal year references in those provisions. The bill would, for taxable years beginning on or after January 1, 2026, and before January 1, 2035, also allow a taxpayer in a strategic industry, as defined, to make an election in the form and manner prescribed by GO-Biz for the California Competes Tax Credit to be refundable to the taxpayer from the Tax Relief and Refund Account or the Corporation Tax Fund, as provided. By increasing the payments from the Tax Relief and Refund Account and the Corporation Tax Fund, continuously appropriated funds, the bill would make an appropriation.
- Introduced
- 2026-02-17
- Latest action
- 2026-05-14 — May 14 hearing: Held in committee and under submission.
- Bill type
- bill,appropriation
- Last updated
- —
Subjects
Sponsors
- McNerneyauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-05-14
May 14 hearing: Held in committee and under submission.
2026-05-08
Set for hearing May 14.
2026-04-27
April 27 hearing: Placed on APPR. suspense file.
2026-04-17
Set for hearing April 27.
2026-04-13
Read second time and amended. Re-referred to Com. on APPR.
amendment-passage,reading-1,reading-2,referral-committee
2026-04-09
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 3795.) (April 8).
amendment-passage,committee-passage,committee-passage-favorable,referral-committee
2026-03-26
From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-03-25
Set for hearing April 8.
2026-02-26
Referred to Com. on REV. & TAX.
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
- application/pdf
- text/html
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
Votes
Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]
2026-04-08 · pass · 5-0
Member-level votes (5)
- Grayson: yes
- Alvarado-Gil: yes
- Becker: yes
- McNerney: yes
- Ashby: yes
Placed on suspense file
2026-04-27 · pass · 7-0
Member-level votes (7)
- Wahab: yes
- Grayson: yes
- Dahle: yes
- Cabaldon: yes
- Seyarto: yes
- Cervantes: yes
- Richardson: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-10-28T12:07:14.964340Z
Inspect retained evidence for changes recorded after evidence tracking began:
Session-wide evidence can include changes to other bills:
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