How will Proposition 6 impact FTB's enforcement of SB 401?

• Position: FTB NEWS - Brief article

SB 401 enacted April 12, 2010, but effective Jan. 1, 2011, and generally operative for taxable years beginning on or after Jan. 1, 2010--conforms to numerous provisions of the Internal Revenue Code that were amended by various federal acts after Jan. 1, 2005. Following the enactment of SB 401, Proposition 26--approved by voters Nov. 2, 2010 amended section 3 of Article XIII A of the Constitution. There is significant ambiguity regarding the scope and meaning of the language amended, and how Prop. 26 affects the FTB's...