Bill > AB17

This bill would revise the personal income tax rates and taxable income brackets in California for taxable years beginning on or after January 1, 2023, and before January 1, 2028. Specifically, it would impose a 4% income tax rate instead of the current 6% or 8% rates on specified taxable income levels. The bill aims to lift the tax burden on middle- and low-income taxpayers by reducing their income tax rates during this five-year period. The bill would also take effect immediately as a tax levy.