July 3, 2013

Assembly approves bill to prevent tax deduction of punitive damages; Senate not expected to act until August

Yesterday we reported about the approval of Assembly Bill 458 by the California State Assembly's appropriations committee.  We should have noted that the bill has been approved not only by the committee, but by the full Assembly.  The Sacramento Business Journal predicts that the Senate will not act on the bill before August, when the senators return from their summer recess.