SB 657
Personal Income Tax Law: deferred compensation: exclusions: long-term qualified tuition program.
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Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill modifies California’s personal income tax laws to align with federal tax rules regarding qualified tuition programs. Specifically, it allows for the exclusion of distributions from a long-term qualified tuition program (like the Golden State Scholarshare Trust) that are transferred directly to a Roth IRA, beginning in 2025. This change is intended to simplify tax filing for taxpayers utilizing these programs and bring California’s tax code in line with federal legislation enacted in 2023.
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