AB 1697

Bill Subjects

Abstract

The Personal Income Tax Law allows various credits against the taxes imposed by that law, including a credit for a personal exemption for dependents. This bill, for taxable years beginning on or after January 1, 2022, and before January 1, 2027, would allow a credit against those taxes to a taxpayer who holds a Certificate of Still Birth for the unreimbursed medical and burial or cremation costs, not to exceed $2,000 per certificate, paid or incurred during the taxable year in which the still birth occurred or within the first 6 months of the next taxable year, as provided. 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. This bill would take effect immediately as a tax levy.