Personal Income Tax Law: exclusions: guaranteed income pilot programs., the official text

An act to amend Section 17131.12 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.

LEGISLATIVE COUNSEL'S DIGEST

The Personal Income Tax Law, in conformity with federal income tax law, generally defines “gross income” as income from whatever source derived, and provides various exclusions from gross income, including, until July 1, 2026, an exclusion for payments received from a guaranteed income pilot program or related grants, as specified. Existing law repeals this exclusion as of January 1, 2027.
This bill would extend the above-referenced exclusion from gross income until July 1, 2031, and would repeal it as of January 1, 2032.
Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements.
This bill also would include additional information required for any bill authorizing a new tax expenditure.
This bill would take effect immediately as a tax levy.

The people of the State of California do enact as follows:

SECTION 1.
Section 17131.12 of the Revenue and Taxation Code is amended to read:
17131.12.
(a) Gross income does not include any payments received by an individual from a guaranteed income pilot program or project that receives a grant pursuant to Section 18997 of the Welfare and Institutions Code.
(b) This section shall become inoperative on July 1, 2031, and, as of January 1, 2032, is repealed.

SEC. 2.
For the purpose of complying with Section 41 of the Revenue and Taxation Code, as it relates to Section 17131.12 of that code, the Legislature finds and declares as follows:
(a) The specific goal of the extension of the exclusion provided pursuant to Section 17131.12 of the Revenue and Taxation Code is to continue to provide financial relief to vulnerable Californians.
(b) There is no available data to collect or report with respect to the exclusion.

SEC. 3.
This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.