Plain English Breakdown
The official source does not provide specific details about the content of the report or its usage beyond the deadline change.
Franchise Tax Board Reporting Deadline Change
The bill changes the Franchise Tax Board's deadline for reporting health coverage penalties information from March 1 to June 1 each year.
What This Bill Does
- Changes the annual reporting deadline for the Franchise Tax Board from March 1 to June 1.
Who It Names or Affects
- The Franchise Tax Board
- The California Legislature
Terms To Know
- Franchise Tax Board
- A state agency that collects taxes and enforces tax laws in California.
- Health coverage penalties
- Fines paid by people who do not have health insurance as required by law.
Limits and Unknowns
- The bill does not specify what happens if the report is submitted late.
- There are no details on why June 1 was chosen as the new deadline.