Corporate tax: exclusions: qualifying shipping activities.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill lets corporations (or groups) that have elected the federal per‑ton shipping tax treatment exclude that shipping income from California gross income. It also sets special depreciation, interest, and gain‑deferral rules for qualifying vessels. The change aligns state tax treatment with federal law and could lower taxes for eligible shipping companies.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0.) (May 6). Re-referred to Com. on APPR. · May 6, 2026

Hearings

• Appropriations Committee Hearing
  Appropriations · May 14, 2026
• Appropriations Committee Hearing
  Appropriations · May 11, 2026
• Revenue and Taxation Committee Hearing
  Revenue and Taxation · May 6, 2026

History

1. May 14, 2026May 14 hearing: Held in committee and under submission.
2. May 12, 2026Set for hearing May 14.
3. May 11, 2026May 11 hearing: Placed on APPR. suspense file.
4. May 7, 2026Set for hearing May 11.
5. May 6, 2026From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0.) (May 6). Re-referred to Com. on APPR.
6. Apr 9, 2026Set for hearing May 6.
7. Apr 8, 2026Re-referred to Com. on REV. & TAX.
8. Mar 23, 2026From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
9. Feb 26, 2026Referred to Com. on RLS.
10. Feb 18, 2026From printer. May be acted upon on or after March 20.
11. Feb 17, 2026Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

• Valladares · sponsor

Bill text

Opens the legislature’s own copy.

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