The hot issues: CalCPA keeps watch on the legislative session.

• Author: Allen, Bruce C.
• Position: CapitolBeat

More than 2,000-2,305, to be precise legislative proposals have been introduced so far in 2013. the first year of the two-year 2013-14 legislative session. Over the next few weeks the Legislature will he holding committee hearings to vet the bills. Here are some of the hot issues that CalCPA is I racking.

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CBA-sponsored Legislation for 150-hour Grace Period to Complete Work Experience

SB 823, introduced by the Senate Committee on Business. Professions and Economic Development, contains the CBAs legislative proposal to assist accounting students, CPA candidates and firms. The bill would extend the transition period between the current CPA licensure requirements to the new 150-hour licensure requirements for two years. Provided that CPA candidates have passed the CPA Exam by the 2014 deadline, they would have until Dec. 31, 2016, to complete their experience requirement and become licensed under the current requirements.

With the growing number of students enrolling in a five-year, combined master's/bachelor's program where both degrees are conferred after the five years are complete, SB 823 would also allow these student-candidates to sit for the CPA Exam prior to official receipt of the bachelor's degree--as long as they have completed all the necessary requirements for the degree and the school is able to certify the student's status.

CalCPA supports SB 823 as the changes will allow many students, CPA candidates and firms to smoothly make the transition to the new licensure requirements. This urgency bill would take effect immediately upon being signed into law. it's awaiting hearing in the Senate Committee on Business, Professions and Economic Development.

Property Tax Agent Registration

AB 1151 (Ting) would require anyone representing a client before any county assessor or their staff to pay a fee and annually register with the Secretary of State. The Secretary of State would also have the authority to notify the tax agent and the taxpayer of noncompliance for failing to register. The bill also would require the Secretary of State to develop a list of registered tax agents and publish it on its website.

CalCPA argues that CPAs should be exempt from the registration requirements stipulated in the hill since they are extensively regulated by the California Board of Accountancy, the IRS, the FTB and other government agencies. Requiring a CPA to register with the Secretary of the State would be adding yet another layer...