California Tax Legislation: Current Developments

The 2001 legislative session in California has concluded, leaving only a small wake with respect to tax law changes. Most notably, the state’s energy crisis dominated early portions of this year’s legislative session, which left little room for tax-related legislation. Overall, relatively few tax bills actually passed the Legislature and were signed by the governor. However, a number of the chaptered bills, as well as a few of the failed bills, are worth mentioning.