Tax Law Updates | New Proposed Legislation
September 14, 2009
CA Commission on the 21st Century Economy Releases Proposed Tax Reform Package
The California Commission on the 21st Century Economy’s Proposed Tax Plan
AB No. ___, 9/9/2009
The California Commission on the 21st Century Economy has released its draft legislative proposals on tax reform.
To recall, California Governor Schwarzenegger’s Executive Order S-15-09 mandated the bipartisan Commission on the 21st Century Economy to re-examine and modernize California’s out-of-date revenue laws that contribute to feast-or-famine state budget cycles.
The Commission is comprised of 14 members; seven appointed by the Governor, and seven appointed by the legislature.
Applying the principles outlined in Governor Schwarzenegger’s Executive Order S-15-09, the Commission will suggest changes to state and local revenues that will result in a revenue stream that is more stable and reflective of…
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