CaliforniaPersonal Income Tax Law: Corporation Tax Law: exemptions: wildfire.
What it does
Existing law establishes, in the Government Operations Agency, the Franchise Tax Board consisting of the Controller, the Director of Finance, and the Chairperson of the State Board of Equalization. Existing law prescribes various powers and duties to the Franchise Tax Board, including, among other things, the administration of state personal income taxes and corporation franchise and income taxes.
More detail
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 income, including, for taxable years beginning on or after January 1, 2021, and before January 1, 2030, an exclusion from income for any qualified taxpayer, as defined, for amounts received in settlement in connection with a wildfire in the state, as provided.
This bill would amend the definitions provided in that exclusion from tax and would limit the exclusion to qualified amounts made in connection with a qualified wildfire disaster, as defined.
This bill would also appropriate $10,000 from the General Fund to the Franchise Tax Board to administer qualified wildfire disaster settlements, as specified.
This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature.
This bill would declare that it is to take effect immediately as a bill providing for appropriations related to the Budget Bill.
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Where it stands
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Sep 17Chaptered by Secretary of State. Chapter 112, Statutes of 2025.Latest
- Sep 17Approved by the Governor Gavin Newsom.Became Law
- Sep 15Enrolled and presented to the Governor at 3:30 p.m.To Governor
- Sep 12Assembly amendments concurred in. (Ayes 31. Noes 0. Page 2955.) Ordered to engrossing and enrolling.Major
- Vote recorded Unfinished Business SB159 B. & F.R. (Wiener) Concurrence. Result: pass.Upper
- Vote recorded SB 159 Budget and Fiscal Review Senate Third Reading By GABRIEL. Result: pass.Lower
- Sep 12In Senate. Concurrence in Assembly amendments pending.
- Sep 11Read third time. Passed. (Ayes 69. Noes 1. Page 3327.) Ordered to the Senate.Passed Assembly
- Sep 10Ordered to third reading.Minor
- Sep 10Withdrawn from committee.Major
- Sep 10Assembly Rule 96 suspended. (Ayes 56. Noes 19. Page 3164.)
- Sep 8From committee with author's amendments. Read second time and amended. Re-referred to Com. on BUDGET.Major
- Mar 24Referred to Com. on BUDGET.Minor
- Mar 20In Assembly. Read first time. Held at Desk.Minor
- Vote recorded 3rd Reading SB159 B. & F.R. Result: pass.Upper
- Mar 20Read third time. Passed. (Ayes 28. Noes 10. Page 450.) Ordered to the Assembly.Passed Senate
- Mar 18Read second time. Ordered to third reading.Minor
- Mar 17Ordered to second reading.Minor
- Mar 17Withdrawn from committee. (Ayes 27. Noes 10. Page 384.)Major
- Feb 5Referred to Com. on B. & F. R.Minor
- Jan 24From printer. May be acted upon on or after February 23.
- Jan 23Introduced. Read first time. To Com. on RLS. for assignment. To print.Introduced