Personal Income Tax Law and Corporation Tax Law: federal conformity.

Section 18666 of the Revenue and Taxation Code was added to the list of sections being amended, meaning the bill now also makes conforming updates to that section.

The header was updated from 'AMENDED IN SENATE APRIL 23, 2026' to 'AMENDED IN ASSEMBLY JUNE 22, 2026' with the Senate date moved below it, reflecting the bill's progression through the Assembly.

Page numbers shifted from 98 to 97 throughout the document due to re-pagination caused by the added header line and expanded section list. All substantive tax provisions remain unchanged.

The provision listing 'A foreign investment company, as defined in Section 1246(b) of the Internal Revenue Code' as a nonconforming item was deleted from the list of federal tax provisions that California does not conform to. This means California will now fully conform to federal treatment of foreign investment companies rather than maintaining its own separate rule.

Section 18622.5 of the Revenue and Taxation Code was added to the list of sections being amended by this bill, expanding the bill's reach to an additional tax code section.

Section 24416.1 of the Revenue and Taxation Code was removed from the list of sections being amended, narrowing the bill's scope slightly.

In Section 17052(d) (Earned Income Tax Credit), the text 'substituting $3,400 for $2,200. the amount prescribed in that provision' was changed to 'substituting $3,400 for the amount prescribed in that provision,' removing the outdated specific reference to the prior federal dollar amount.

In Section 17052(j)(1), the redundant citation 'Section 41 of the Revenue and Taxation Code, 41' was corrected to simply 'Section 41.'