AB 3

  • California Assembly Bill
  • 2025-2026, Special Session 1
  • Introduced in Assembly
  • Assembly
  • Senate
  • Governor

Personal Income Tax: tax credits: fire-resistant home improvements.

Abstract

The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2025, and before January 1, 2030, to a qualified taxpayer, as defined, in an amount equal to 40% of the taxpayer's qualified expenses, as defined, not to exceed $400 per taxable year, or $2,000 cumulatively. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. The bill would also include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Bill Sponsors (18)

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Actions


Feb 03, 2025

Assembly

Died at Desk.

Jan 18, 2025

Assembly

From printer.

Jan 17, 2025

Assembly

Read first time. To print.

Bill Text

Bill Text Versions Format
AB3 HTML
01/17/25 - Introduced PDF

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Sources

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