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Assembly Bill 435 (Feigenbaum 1933)

Chapter 209, Statutes of 1933 AB 435

Some bill research does not include the Governor's file because at the time we researched the bill, the sitting Governor had not released his chaptered bill file. If the Governor's file is not included with this particular research, please contact our office (1-800-666-1917 or quote@legintent.com) and we will be happy to provide this file at no charge if it is available.

As enacted Assembly Bill 435 was entitled:

 

An act to amend sections 8, 14, and 19 of chapter thirteen, Statutes of 1929, entitled “An act to carry into effect the provisions of section 16 of article thirteen of the Constitution of the State of California, relating to bank and corporation taxes” relating to taxes upon banks and corporations, and providing that this act shall take effect immediately. 

(See Exhibit #1e, page 687) 

 

Assembly Bill 435 was introduced on January 16, 1933 by Assembly member Feigenbaum, an attorney from San Francisco and a member of the Assembly Committee on Revenue and Taxation, the first Committee to hear the bill.  (See Exhibits #1a and #4)

 

Assembly Bill 435 was assigned to the Assembly Committee on Revenue and Taxation and the Senate Committee on Revenue and Taxation where policy issues raised by the bill were considered.  (See Exhibit #2)  Three amendments were made to Assembly Bill 435.  (See Exhibits #1b through #1d and #2)  Subsequent to legislative approval, Governor James Rolph Jr., signed the bill on May 11, 1933, and it was recorded by the Secretary of State on May 12, 1933 as Chapter 209 of the Statutes of 1933.  (See Exhibits #1e and #2)

 

Unfortunately, the committees from 1933 have left no materials documenting legislative consideration of Assembly Bill 435.  The same is true for the author as well as the Governor for that year.  We have undertaken an exhaustive research effort of legislative journals and other materials that might shed light on this legislative action.  The most substantive documents located seem to be the Reports to the Governor and Legislature by the California Tax Research Bureau and the California State Board of Equalization as well as the publication of the California Taxpayers’ Association.  (See Exhibits #7 through #12)

 

The documents indicate that the California Tax Research Bureau was the sponsor of Assembly Bill 435 and that the bill was based upon their report.  (See Exhibits #11a, page 157 and #11b, page 96)  We include a copy of the December 1932 Report of the California Tax Research Bureau which discusses the need for changes in the Bank and Corporations law and sets out recommendations.  (See Exhibit #7, page 78)  You will see that some of these recommendations correlate with provisions of Assembly Bill 435 as it was introduced.  (See and compare Exhibit #1a and #7, pages 78 through 91)

 

We also include a copy of the May 1932 article by Fred Stewart, the Vice Chair of the State Tax Research Bureau, in The Tax Digest, a publication of the California Taxpayers’ Association regarding the work of the Tax Research Bureau which provides further background information.  (See Exhibit #11a, pages 157 and 158)