Bill > SB1096

This bill proposes to create a new senior tax credit for California taxpayers, allowing a credit of $1,500 per dependent for qualified taxpayers between January 1, 2026, and January 1, 2031. A "qualified taxpayer" is defined as someone who is or would have been 65 years or older by the end of the tax year and whose adjusted gross income for that year does not include any "earned income," which refers to income from wages, salaries, tips, and other similar sources as defined by federal tax law. The bill also includes provisions requiring specific goals, performance indicators, and data collection for this new tax expenditure, with the Legislative Analyst's Office tasked with reporting on the credit's usage by January 1, 2032. This measure is considered a tax levy and will take effect immediately upon passage.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1096