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California · 2025–26 Regular Session · Assembly Bill

AB 480: Personal Income Tax Law: Corporation Tax Law: insurance tax law: low-income housing tax credit:

Enacted Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

AB 480 is a assembly bill introduced in the California Assembly on February 10, 2025. According to its official title, it concerns: Personal Income Tax Law: Corporation Tax Law: insurance tax law: low-income housing tax credit: . Primary sponsor: Sharon Quirk-Silva (D). Most recent recorded action (October 10, 2025): Chaptered by Secretary of State - Chapter 492, Statutes of 2025.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

Existing law establishes a low-income housing tax credit program pursuant to which the California Tax Credit Allocation Committee (CTCAC) provides procedures and requirements for the allocation, in modified conformity with federal law, of state insurance, personal income, and corporation tax credit amounts to qualified low-income housing projects that have been allocated, or qualify for, a federal low-income housing tax credit, and farmworker housing. Existing law limits the total annual amount of the state low-income housing credit for which a federal low-income housing credit is required, as specified. That law authorizes a taxpayer to make an election in its application to the CTCAC to sell all or any portion of any credit allowed.

This bill would instead authorize a taxpayer to make that election in the manner prescribed by the CTCAC, as provided.

Sponsors

Sponsors by party (alphabetical): Democratic 1

NameRolePartyChamberDistrict
Sharon Quirk-SilvaPrimary sponsorDemocraticAssembly67

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Chaptered by Secretary of State - Chapter 492, Statutes of 2025.
  2. Approved by the Governor.
  3. Enrolled and presented to the Governor at 4 p.m.
  4. In Assembly. Ordered to Engrossing and Enrolling.
  5. Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2521.).
  6. Ordered to special consent calendar.
  7. Read second time. Ordered to third reading.
  8. From committee: Do pass. (Ayes 7. Noes 0.) (August 29).
  9. In committee: Referred to suspense file.
  10. In committee: Hearing postponed by committee.
  11. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 5. Noes 0.) (July 9). Re-referred to Com. on APPR.
  12. From committee: Do pass and re-refer to Com. on REV. & TAX. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (June 17). Re-referred to Com. on REV. & TAX.

Sources

  1. California Legislative Information — pubinfo database export
  2. Official bill page