The Personal Income Tax Law, in modified 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. This bill would, for taxable years beginning on or after January 1, 2026, and before January 1, 2031, exclude from gross income the first $25,000 of overtime pay received by a taxpayer during the taxable year. The bill would also exclude from gross income the first $25,000 received by a taxpayer as proceeds from a defined benefit plan, as defined. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals 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.
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions from gross income in calculating adjusted gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would allow a deduction from adjusted gross income for amounts contributed by a qualified taxpayer, as defined, to a catastrophe savings account, in accordance with specified provisions. The bill would define "catastrophe savings account" to mean a savings account or money market account with a financial institution that, among other requirements, is established to pay for the qualified catastrophe expenses, as defined, of a qualified taxpayer establishing the account, as provided. The bill would subject a qualified taxpayer to a specified penalty if they use a distribution from a catastrophe savings account to cover an expense other than a qualified catastrophe expense. The Personal Income Tax Law, in conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would provide an exclusion from gross income for interest earned by a catastrophe savings account, as specified. Existing law requires any bill authorizing a new tax expenditure, as defined, to include tax credits, deductions, exclusions, or exemptions, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would include findings and reporting requirements in compliance with this requirement. This bill would take effect immediately as a tax levy.
Existing state sales and use tax laws impose a tax on retailers measured by the gross receipts from the sale of tangible personal property sold at retail in this state, or on the storage, use, or other consumption in this state of tangible personal property purchased from a retailer for storage, use, or other consumption in this state. Existing law defines "sale" and "purchase" for these purposes and provides certain exclusions from those definitions. Existing law, until January 1, 2027, excludes the transfer of vested property by a pawnbroker to a person who pledged the property to the pawnbroker as security for a loan, if specified requirements are met, from the definition of "sale" and "purchase," thus excluding that transfer from imposition of sales and use tax. This bill would extend the exclusion of the transfer of vested property by a pawnbroker to the person who pledged it, as described above, until January 1, 2032. Existing law requires a bill authorizing a sales and use tax exemption 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 would include that additional information required for the above sales and use tax exclusion. The Bradley-Burns Uniform Local Sales and Use Tax Law authorizes counties and cities to impose local sales and use taxes in conformity with the Sales and Use Tax Law, and existing laws authorize districts, as specified, to impose transactions and use taxes in accordance with the Transactions and Use Tax Law, which generally conforms to the Sales and Use Tax Law. Amendments to the Sales and Use Tax Law are automatically incorporated into the local tax laws. Existing law requires the state to reimburse counties and cities for revenue losses caused by the enactment of sales and use tax exemptions. This bill would provide that, notwithstanding Section 2230 of the Revenue and Taxation Code, no appropriation is made and the state shall not reimburse any local agencies for sales and use tax revenues lost by them pursuant to this bill. This bill would take effect immediately as a tax levy.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including numerous motion picture credits. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would allow a credit against the taxes imposed by those laws to a qualified taxpayer that produces qualified commercials, as defined, in the state in an amount equal to 20% or 30% of the qualified production costs in excess of $500,000 that are attributable to the production of a qualified commercial, as specified. The bill would exclude any commercial that is created entirely by generative artificial intelligence, as specified, or that utilizes generative artificial intelligence or autonomous vehicles in a manner that replaces the job functions customarily performed by a human worker in the production. The bill would require the qualified commercial to adhere to specified labor standards. The bill would require the California Film Commission to establish an application process and allocate the credits on or after July 1 each year, in accordance with certain requirements. The bill would limit the aggregate amount of credits that may be allocated for a fiscal year under these provisions to $15,000,000. The bill would require specified certifications under penalty of perjury. By expanding the scope of a crime, this bill would impose a state-mandated local program. 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 would include additional information required for any bill authorizing a new tax expenditure. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. This bill would take effect immediately as a tax levy.
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions in calculating taxable income. Existing federal income tax law, for taxable years beginning before January 1, 2029, allows deductions in determining taxable income, as defined, for amounts equal to the qualified tips, as defined. This bill, for taxable years beginning on or after January 1, 2026, and before January 1, 2029, would conform to federal income tax law with regard to qualified tips, except as provided. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals 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.
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including various motion picture credits, commonly referred to as motion picture credit 1.0, 2.0, 3.0, and 4.0, and the certified studio credit, to be allocated by the California Film Commission in differing amounts equal to specified percentages of the qualified expenditures of a qualified motion picture in this state. Existing law establishes the continuously appropriated Tax Relief and Refund Account and the Corporation Tax Fund and provides that payments required to be made to taxpayers or other persons are to be paid from those funds. This bill would allow a credit against those taxes in an amount between 35% and 50% of qualified expenses relating to the post-production of a qualified motion picture in California to be allocated by the California Film Commission, as specified. The bill would require the credit to be administered in the same manner as the motion picture credit 4.0, except as specified. The bill would require the California Film Commission to utilize a post-production services ratio, as defined, to allocate credits, as specified. The bill would limit the aggregate amount of credits allocated in a fiscal year based on a determination made by the Legislature in the annual Budget Act plus additional amounts, as described. The bill would require that 85% of the total allocable credits are reserved for qualified taxpayers that attest, under penalty of perjury, that they will abide by specified labor condition requirements. By expanding the scope of the crime of perjury, this bill would impose a state-mandated locale program. This bill would allow a qualified taxpayer to elect to be paid a refund if the amount allowable as a credit exceeds the qualified taxpayer's tax liability for the taxable year, as specified. By requiring moneys to be paid from the Tax Relief and Refund Account and the Corporation Tax Fund, the bill would make an appropriation. Existing law requires any bill authorizing a new tax expenditure, as defined, to include tax credits, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would include findings and reporting requirements in compliance with this requirement. The bill would require exchange of information between the Legislative Analyst's Office and other specified agencies in order to comply with these requirements. The bill would make the unauthorized disclosure of this information subject to existing law, the violation of which is a crime. By expanding the scope of a crime, this bill would impose a state-mandated local program. This bill would incorporate additional changes to Sections 17039 and 23036 of the Revenue and Taxation Code proposed by AB 2222 to be operative only if this bill and AB 2222 are enacted and this bill is enacted last. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Existing law appropriates certain unallocated moneys and other specified moneys deposited into the Fair and Exposition Fund, a continuously appropriated fund, to the Secretary of Food and Agriculture for capital outlay to California fairs for, among other things, fair projects involving public health and safety, fair projects involving major and deferred maintenance, and fair projects necessary due to any emergency, as specified. This bill would instead appropriate those moneys described above to the secretary for capital outlay to California fairs for fair projects involving public health, fire and life safety, and emergency services improvement projects at fairs, California Code of Regulations compliance projects, and maintenance projects at fairgrounds, as specified. By expanding the purposes for which those moneys may be used, the bill would make an appropriation. The bill would require moneys deposited into the fund after November 1 of each year to be allocated within 90 days of the receipt of the moneys, as provided. The bill would require all available moneys in the fund to be allocated to the network of California fairs pursuant to an approved expenditure plan no later than December 31 of each calendar year, except that beginning January 1, 2027, and every year thereafter, a reasonable amount may be retained from year to year as a prudent reserve for contingencies, as specified.
The Personal Income Tax Law allows various credits against the taxes imposed by that law, including a credit of $227 for each dependent, as defined, of a taxpayer for each taxable year beginning on or after January 1, 1999, as adjusted for inflation, and which may be reduced if a taxpayer's federal adjusted gross income exceeds a threshold amount. This bill would allow a credit against the taxes imposed by the Personal Income Tax Law for each taxable year beginning on or after January 1, 2026, and before January 1, 2031, to a qualified taxpayer in an amount equal to $1,500 per qualified dependent, as defined. The bill would define "qualified taxpayer" for these purposes to mean a taxpayer who is or would have been, or whose spouse is or would have been, as applicable, 65 years of age or older as of the last day of the taxable year and for whom no part of their adjusted gross income for the taxable year consists of earned income, as defined. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals 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.
Existing law, the State General Obligation Bond Law, generally sets forth the procedures for the issuance and sale of bonds governed by its provisions and for the disbursal of the proceeds of the sale of those bonds. Existing law specifies various provisions required for inclusion in a bond act. Existing law requires any state bond measure approved on or after January 1, 2004, to be subject to an annual reporting process, with the head of the lead state agency administering the bond proceeds reporting certain information about the projects being funded to the Legislature and the Department of Finance. Existing law permits this information to be provided on the agency's internet website or the state's open data portal under certain circumstances. Existing law authorizes the costs of the report to be included in the cost of administering the bond act unless prohibited by the bond act. Existing law defines various terms for these purposes, including "board." Existing law defines "board" to mean the state board, department, or agency authorized by a bond act to request the committee to cause bonds to be issued for the purpose of creating a fund that is to be expended by the board for the purposes specified in the bond act. Existing law, the Administrative Procedure Act, sets forth the requirements for the adoption, publication, review, and implementation of regulations by state agencies. For any state general obligation bond measure that is approved by voters on and after January 1, 2027, this bill would require a bond act to include specified information about the objectives of the bond expenditure and related data. The bill would also require the board to post on its internet website a notification that contains, among other information, details about the programs and projects authorized to be funded by the bond. The bill would require the board to provide a short, one page, executive summary style written report to the Department of Finance, the Legislative Analyst, and specified legislative committees that contains certain information regarding the general obligation bond, in accordance with the above-described provision permitting this information to be provided on the board's internet website or the state's online data portal. The bill would require the report to include, among other information, whether the project, grant, or other expenditure of bond proceeds has been done in a timely manner. The bill would require a bond act to include a provision requiring the cost of the report to be included in the cost of administering the bond act and would require the cost of compliance with the above-described report requirements be included in the cost of administering the bond act. The bill would exempt from the requirements of the Administrative Procedure Act the development and adoption of program guidelines, recommendations, or criteria pursuant to the bill. The bill would also make nonsubstantive and conforming changes.
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions from gross income in calculating adjusted gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would allow a deduction in determining adjusted gross income for a taxpayer in an amount equal to $3,000 per qualified individual, reduced by 6% of the taxpayer's federal adjusted gross income in excess of specified thresholds. The bill would define "qualified individual" for these purposes to mean the taxpayer if the taxpayer is an elderly senior and, in the case of a married couple filing a joint return, the taxpayer's spouse if the taxpayer's spouse is an elderly senior, and would define "elderly senior" to mean an individual who meets specified age criteria as of the last day of the taxable year. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
