Personal Income Tax Law: Corporation Tax Law: Chiquita Canyon elevated temperature landfill event: exclusions.
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Majority
Fiscal committee
No
Appropriation
No
Current location
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates tax exclusions for payments received by California taxpayers as compensation for losses, damages, expenses, or inconvenience resulting from the Chiquita Canyon elevated temperature landfill event in Los Angeles County. It applies to taxable years beginning on or after January 1, 2024, and before January 1, 2029. The bill also prohibits these payments from being considered income or resources when determining eligibility for certain public assistance programs and guaranteed income payments.
Key provisions
- Provides a tax exclusion for ‘Chiquita Canyon elevated temperature landfill event payment’ amounts received by taxpayers.
- Defines ‘Chiquita Canyon elevated temperature landfill event’ and ‘Chiquita Canyon elevated temperature landfill event payment’ for clarity.
- Prohibits Chiquita Canyon event payments from being considered income or resources for means-tested programs (CalWORKs, CalFresh, Medi-Cal, etc.) and guaranteed income payments.
- Adds Sections 17157.5 and 24309.9 to the Revenue and Taxation Code.
- Adds Section 10010 to the Welfare and Institutions Code to further clarify the exclusion.
- Requires taxpayers to provide documentation of payments upon request from the Franchise Tax Board.
- Establishes a sunset date for the exclusion (December 1, 2029).
- Includes legislative findings regarding the purpose and objective of the tax exclusion.
Who is affected
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