AB 760
Income taxes: exclusions: 2026 Garden Grove chemical leak.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a tax exclusion for California residents and businesses affected by the 2026 Garden Grove chemical leak. It allows qualified taxpayers – including property owners, residents, and businesses in Orange County – to exclude settlement payments received as a result of the leak from their gross income. The exclusion applies to taxable years beginning on or after January 1, 2026, and before January 1, 2031, and requires settlement entities to provide documentation to the Franchise Tax Board. The bill also includes reporting requirements to track the total amount of settlement payments.
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