CaliforniaPersonal income taxes: Fire Safe Home Tax Credits Act.
What it does
The Personal Income Tax Law allows various credits against the tax imposed by that law. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements.
More detail
This bill would allow credits against the tax imposed by the Personal Income Tax Law for taxable years beginning on or after January 1, 2027, and before January 1, 2032, to a qualified taxpayer for qualified costs relating to qualified home hardening, as defined, and for qualified costs relating to qualified vegetation management, as defined, in specified amounts, not to exceed an aggregate amount of $50,000,000 per taxable year.
This bill would require a qualified taxpayer to reserve a credit for qualified costs relating to qualified home hardening or qualified vegetation management to be eligible for the above-described credits and provide all necessary information for this purpose, as specified.
This bill also would include additional information required for any bill authorizing a new income tax credit and would require the Legislative Analyst's Office to prepare a written report regarding the credits, as provided.
This bill would take effect immediately as a tax levy.
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Where it stands
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 14May 14 hearing: Held in committee and under submission.Latest
- May 12Set for hearing May 14.
- May 11May 11 hearing: Placed on APPR. suspense file.
- Vote recorded Placed on suspense file. Result: pass.Upper
- May 7Set for hearing May 11.
- May 6From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 4154.) (May 6). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- Apr 23From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.Major
- Apr 9Set for hearing May 6.
- Feb 26Referred to Com. on REV. & TAX.Minor
- Feb 17From printer. May be acted upon on or after March 16.
- Feb 13Introduced. Read first time. To Com. on RLS. for assignment. To print.Introduced