Steve Choi
- Republican
- Senator
- District 37
Author
The Personal Income Tax Law and the Corporation 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, 2025, and before January 1, 2030, would provide an exclusion from gross income for amounts received from a settlement entity, as defined, by a qualified taxpayer, as defined, to replace property that is located in a city or county in this state and that was damaged or destroyed by a disaster or accidental or human-caused event for which a state of emergency or local emergency, as defined, was proclaimed. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives 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.
May 23 hearing: Held in committee and under submission.
Set for hearing May 23.
May 19 hearing: Placed on APPR. suspense file.
Set for hearing May 19.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 1081.) (May 14). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
Set for hearing May 14.
From printer. May be acted upon on or after March 6.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB268 | HTML |
| 02/03/25 - Introduced | |
| 04/28/25 - Amended Senate | |
| 05/07/25 - Amended Senate |
| Document | Format |
|---|---|
| 05/09/25- Senate Revenue and Taxation | |
| 05/16/25- Senate Appropriations |
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