Josh Lowenthal
- Democratic
- Assemblymember
- District 69
Author
Existing law imposes various taxes, including a tax on income, the gross receipts from the sale of tangible personal property, and real property. This bill would, for taxable years beginning on or after January 1, 2026, and before January 1, 2031, impose a tax on a social media platform provider, as defined, equal to an unspecified percentage of the annual gross receipts derived from the purchase of advertisements for distribution on the provider's social media platform, as provided. This bill would create the Social Media Safety Trust Fund within the State Treasury and would require all moneys raised pursuant to these taxes be deposited into the fund. The bill would establish various accounts within the fund and would allocate moneys into those accounts for expenditure according to specified purposes, including an Education Account, Mental Health Care Account, Research and Development Account, and Social Services Account. The bill would continuously appropriate the moneys in the fund to administer those provisions. The bill would repeal these provisions on January 1, 2031.
In committee: Set, first hearing. Hearing canceled at the request of author.
From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 8. Noes 4.) (April 22). Re-referred to Com. on REV. & TAX.
From committee chair, with author's amendments: Amend, and re-refer to Com. on P. & C.P. Read second time and amended.
Referred to Coms. on P. & C.P. and REV. & TAX.
From printer. May be heard in committee March 21.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB796 | HTML |
| 02/18/25 - Introduced | |
| 03/28/25 - Amended Assembly |
| Document | Format |
|---|---|
| 04/19/25- Assembly Privacy and Consumer Protection |
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