AB 1370 – Tax and Finance

Author - Mary Hayashi (D-Castro Valley)

CHI Position - Support

Summary - For biopharmaceutical and other biotechnology companies, provides net operating losses to be carried forward for the 20-year period following the year in which the net operating loss was deducted.

Status - Passed Assembly Floor on 06/06/07.  Passed Senate Revenue and Taxation Committee on 06/28/08.  Awaiting Hearing in Senate Appropriations Committee.

Link to legislation