The measure is authored by Assembly Speaker John Perez (PEH-rez). It would end a tax break in California law, which allows out-of-state corporations to pay less in taxes than businesses based in California.
The bill required Republican support in order to pass, but Assembly member Brian Jones made it clear that would not come from him.
Jones: "What a great concept we have here today, let's take from the evil greedy rich corporations and let's give to the needy middle class, what honorable Robin Hoods we have here today."
An effort to close a similar tax break last year passed in the Assembly but failed in the Senate.
A companion bill would use the new revenue to cut student fees by two-thirds for UC and CSU students whose families earn less than $150,000 per year.