Personal Income Tax Law: Corporation Tax Law: tax credits: backup generators: solar batteries.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Revenue and Taxation
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill creates tax credits for California residents and businesses to help offset the cost of purchasing backup electricity generators and solar batteries. Qualified taxpayers can receive up to 50% of the cost, with a maximum credit of $5,000 for residential properties and $7,500 for commercial properties. These credits are specifically intended for use in designated wildfire zones and require an appropriation to be implemented. The bill also includes reporting requirements to track the use of these credits.
Key provisions
- Allows a 50% tax credit for qualified purchases of backup electricity generators.
- Allows a 50% tax credit for qualified purchases of solar batteries.
- Limits the credit to $5,000 for residential properties and $7,500 for commercial properties.
- Credits are only available for purchases in designated wildfire zones.
- Requires an appropriation in the Budget Act or another statute for the credit to be operative.
- Credits can be carried over for up to six years.
- Defines key terms such as ‘backup electricity generator’ and ‘qualified taxpayer’.
- Requires reporting on credit usage to the Legislature.
Who is affected
- California residents
- California businesses (specifically small businesses with annual gross receipts of $15 million or less)
- Property owners in designated wildfire zones
Notable changes
Bill text
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Sponsors
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7 on record
Primary sponsor
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