CaliforniaPersonal income taxes: exclusion: Military Services Retirement and Surviving Spouse Benefit Payment Act.
What it does
The Personal Income Tax Law, in conformity with federal income tax laws, defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income, including an exclusion for combat-related special compensation.
More detail
This bill, for taxable years beginning on or after January 1, 2025, and before January 1, 2035, would exclude from gross income retirement pay received by a qualified taxpayer, as defined, during the taxable year, not to exceed $20,000, from the federal government for service performed in the uniformed services, as defined. The bill, for taxable years beginning on or after January 1, 2025, and before January 1, 2035, would also exclude from gross income annuity payments received by a qualified taxpayer, as defined, during the taxable year, not to exceed $20,000, pursuant to a United States Department of Defense Survivor Benefit Plan. The bill would make related findings and declarations.
Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.
This bill also would include additional information required for any bill authorizing a new tax expenditure.
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
- Feb 2Returned to Secretary of Senate pursuant to Joint Rule 56.Latest
- 2025
- May 23May 23 hearing: Held in committee and under submission.
- May 16Set for hearing May 23.
- May 12May 12 hearing: Placed on APPR. suspense file.
- Vote recorded Placed on suspense file. Result: pass.Upper
- May 2Set for hearing May 12.
- Apr 29From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 0. Page 918.) (April 28). Re-referred to Com. on APPR.Minor
- Apr 28
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- Mar 28Set for hearing April 28.
- Mar 12From committee: Do pass and re-refer to Com. on M. & V.A. (Ayes 5. Noes 0.) (March 12). Re-referred to Com. on M. & V.A.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Military and Veterans Affairs]. Result: pass.Upper
- Feb 26Set for hearing March 12.
- Feb 20From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.Major
- Jan 29Referred to Coms. on REV. & TAX. and M. & V.A.Minor
- 2024
- Dec 3(Corrected December 12).
- Dec 3From printer. May be acted upon on or after January 2.
- Dec 2Introduced. Read first time. To Com. on RLS. for assignment. To print.Introduced