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CA SB1

CA SB1
Personal Income Tax Law: exclusion: student loan debt.


summary

Introduced
12/05/2022
In Committee
05/01/2023
Crossed Over
Passed
Dead
02/01/2024

Introduced Session

2023-2024 Session

Bill Summary

An act to amend Section 17144.8 of the Revenue and Taxation Code, relating to taxation.

AI Summary

This bill would exclude from an individual's gross income, for taxable years beginning on or after January 1, 2021, and before January 1, 2026, the amount of certain student loans discharged, in whole or in part, after December 31, 2020, and before January 1, 2026, in conformity with federal law. The bill would also include additional information required for any bill authorizing a new tax expenditure and make findings and declarations related to a gift of public funds.

Committee Categories

Budget and Finance

Sponsors (14)

Last Action

Returned to Secretary of Senate pursuant to Joint Rule 56. (on 02/01/2024)

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