CA Legislature Ready to Act on Tax Forgiveness Bill

Published: April 6, 2010

The Legislature appears close, again, to passing a bill to help homeowners who are forced to make short sales of their homes. Jim Wasserman reports, “State lawmakers said Monday they plan to cancel the state tax obligations with a vote Thursday. Shannon Murphy, spokeswoman for Assembly Speaker John Pérez, D-Los Angeles, said legislation will go before the Assembly Revenue and Tax Committee today and the Appropriations Committee on Wednesday, and will receive a full vote Thursday.

“A similar Senate floor vote planned Thursday would send the bill immediately to Gov. Arnold Schwarzenegger, who has repeatedly stated his support. The new bill is similar to one he vetoed March 25. But this time it omits a part he opposed – financial penalties for businesses that routinely seek state tax refunds. Democrats removed the section despite their contention that some firms “fish” for refunds whether or not they’re owed.”

Last modified: April 6, 2010 at 5:03 pm | Originally published: April 6, 2010 at 5:03 pm
Printed: September 20, 2020