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Excise Tax on CA Property Owners for Renting or Leasing Property in New Bill

February 19, 2021 6:54 amFebruary 19, 2021 6:56 am

On February 18, Assemblyman Mike Gipson (D-Carson) introduced Assembly Bill 1199, to impose an annual excise tax for the privilege of renting or leasing out qualified property. The bill would add Article 8 (commencing with Section 12280) to Chapter 3 of...

DMV Vehicle Records Possibly Breached, Exposing Millions of Drivers’ Personal Data

February 19, 2021 5:21 amFebruary 18, 2021 10:22 pm

The California Department of Motor Vehicles (DMV) announced Thursday that personal information of California drivers may have been leaked through a computer breach. According to the DMV, the Seattle-based Automatic Funds Transfer Services (AFTS), a department contractor that verifies vehicle...

Psychedelic Drugs Such As LSD, Mescaline May Be Legalized In New Bill

February 18, 2021 7:00 pm

A new bill introduced Wednesday in the State Senate would legalize several psychedelic drugs such as LSD and psilocybin “magic” mushrooms. Senate Bill 519, authored by Senator Scott Wiener (D-San Francisco), would make psilocybin (magic mushrooms), dimethyltryptamine (psychedelic drug DMT),...

Gov. Newsom Recall Still Needs Donors and Signatures

February 18, 2021 3:30 pmFebruary 18, 2021 3:33 pm

While the chances that Gavin Newsom will face a recall election are greater than ever, those chances are diminished whenever anyone says the signature gathering campaign has been successfully concluded. It is not done yet, and without ongoing financial and volunteer support...

Newsom Recall Campaign Hits Nearly 1.7 Million Signatures

February 18, 2021 3:21 pm

On Wednesday, the California Patriot Coalition/Recall Gavin Newsom 2020 announced that 1,689,000 signatures had been gathered for the Governor Gavin Newsom recall petition. The recall campaign’s collection pace accelerated quickly during the past week, bringing in nearly 200,000 signatures in...

Proposed Federal Tax Conformity Excludes Loans Forgiven Under CARES Act From Gross Income

February 18, 2021 6:40 amFebruary 18, 2021 7:11 am

Assemblyman Phil Chen(R-Yorba Linda) introduced Assembly Bill 936 February 17. The bill would amend Sections 17131.8 and 24308.6 of the Revenue and Taxation Code. As an urgency measure, the bill would require a 2/3 vote in both houses of the...

No More Second Home Mortgage Interest Deduction

February 18, 2021 6:15 amFebruary 18, 2021 6:28 am

Assemblyman Alex Lee (D-San Jose) introduced Assembly Bill 946 February 17, which would deny the deduction for a non-principal residence. The bill would amend Section 51342 of the Health and Safety Code and add Section 17226 to the Revenue and Taxation...