Income taxes: exclusion.

The Personal Income Tax Law provides an exclusion from gross income for any amount received as a rebate or voucher from a local water or energy agency or supplier for the purchase or installation of a water conservation water closet, energy efficient clothes washers, and plumbing devices, as specified. The Personal Income Tax Law and the Corporation Tax Law provide an exclusion from gross income for any rebate, voucher, or other financial incentive issued by the California Energy Commission, the Public Utility Commission, or a local publicly owned electric utility for any expenses paid or incurred by a taxpayer for the purchase or installation of a thermal system, solar system, wind energy system device that produces electricity, or a fuel cell generating system. This bill would, for taxable years beginning on or after January 1, 2014, and before January 1, 2019, under both of these laws, provide an exclusion from gross income for any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program. This bill would take effect immediately as a tax levy.