Bill > SB1118

This bill, for taxable years between January 1, 2027, and January 1, 2032, would allow qualified taxpayers, defined as individuals or small businesses with average annual gross receipts of $15 million or less, to receive a tax credit equal to 50% of the cost of purchasing a backup electricity generator or a solar battery for use in a residence or commercial property located within a designated wildfire zone, which is an area with a high fire threat. The credit for a backup electricity generator is capped at $5,000 per property, and for a solar battery at $7,500 per property, and these credits can be carried over for up to six years if they exceed the taxpayer's net tax liability. Importantly, these tax credits will only be available in years when the state budget specifically appropriates funds for their administration, and the bill also includes provisions for reporting on the use of these credits and requires additional information for any bill authorizing new tax expenditures.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1118