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Public Policy Newsletter Article

See where bills related to corporate income tax, insulin availability to Californians, and manufacturing of specific state-branded generic dugs stand.

State Legislature Reconvenes After 3 Month Break

  • 2020-01-31T16:45:00.000+0000
  • California
  • Author: Jimmy Jackson

The California Legislature has reconvened after its 3 month break, and members wasted no time in bringing back legislation from last year and introducing new proposals for consideration for this year.

SB 37, a bill which had stalled last year, was given new life when it passed out of the Senate Governance and Finance Committee on a 4-2-1 vote. This bill would assess a company’s California corporate income tax based on a ratio between the highest compensated employees and the median pay of all U.S. employees for the company, including contracted employees. The greater the ratio, the more the company would pay in income tax. Read the coalition letter of opposition, upon which Biocom is a signatory. It is currently awaiting further assignment in the Senate Rules Committee.

Newly introduced so far this year are AB 1943 (Grayson), which is a “spot bill” (containing little or no substantive policy language), which states “the intent of the Legislature to enact legislation that would help ensure that insulin is available and affordable to all Californians,” and SB 852, which would authorize the state to pursue manufacturing specific state-branded generic drugs. Neither gives enough information so far to know their reach or potential impact to the industry.

There will be much more of interest to the industry in the weeks to come. You can keep up in real time with the status of Biocom-followed bills and any letters Biocom has submitted on them on the Biocom State Legislation of Interest page.