An Assembly committee advanced AB 1790 to Appropriations on a 7-0 vote Monday after a hearing that split supporters and opponents over California corporate tax rules.
According to the committee hearing on the Assembly Revenue and Taxation Committee audio, supporters said the bill could generate $3 billion to $4 billion annually. Opponents warned the proposal could add compliance burdens and prompt retaliation, and some raised concerns tied to worldwide combined reporting and water's-edge taxation.
The committee’s action moved AB 1790 beyond a routine hearing item and into the next fiscal stage in the Legislature. The hearing record available to date does not include a fiscal analysis, the bill author’s full explanation of the proposal’s mechanics, or the final member-by-member vote record.
AB 1790 is one of several tax-related measures the committee heard during the April 27 hearing.
