Personal Income Tax Law: Corporation Tax Law: exclusions: wildfires.
- Excludes wildfire settlement payments from state taxes for victims of three major California fires through 2027.
- Applies to property owners, residents, and businesses in affected counties who received settlement payments.
- Requires settlement companies like PG&E to provide payment documentation to state tax authorities.
- Takes effect immediately to provide urgent financial relief to wildfire victims.
Assembly Member Hadwick's tax relief measure creates exclusions from gross income for settlement payments received by residents and businesses affected by three major California wildfires. The legislation applies to settlements related to the 2021 Dixie Fire in Butte, Plumas, Lassen, Shasta, and Tehama Counties; the 2022 Mill Fire in Siskiyou County; and the 2024 Park Fire in Butte and Tehama Counties.
The exclusions cover settlement payments made between 2022 and 2026 by Pacific Gas and Electric Company for the Dixie Fire, Roseburg Forest Products for the Mill Fire, and approved entities for the Park Fire. Eligible recipients include property owners, residents, and businesses that were located in the affected counties during the fires and received settlements for expenses or losses. Settlement entities must provide documentation to the Franchise Tax Board upon request to verify payment details.
To measure the program's reach, the Franchise Tax Board will report to the Legislature by December 2027 on the number of taxpayers who claimed the exclusions and the total amount of settlements paid. The provisions automatically expire on December 1, 2027. The bill includes an urgency clause for immediate implementation upon passage.
This bill was recently introduced. Email the authors to let them know what you think about it.
Introduced By
 Sharon Quirk-SilvaD Assembly Member | Committee Member |  Not Contacted | |
 Mike GipsonD Assembly Member | Committee Member | Not Contacted | |
 Tom LackeyR Assembly Member | Bill Author | Not Contacted | |
 Megan DahleR Senator | Bill Author | Not Contacted | |
 Tina McKinnorD Assembly Member | Committee Member | Not Contacted |
| Bill Number | Title | Introduced Date | Status | Link to Bill |
|---|---|---|---|---|
SB-542 | Personal Income Tax Law: Corporation Tax Law: wildfires: exclusions. | February 2023 | Vetoed |
- Excludes wildfire settlement payments from state taxes for victims of three major California fires through 2027.
- Applies to property owners, residents, and businesses in affected counties who received settlement payments.
- Requires settlement companies like PG&E to provide payment documentation to state tax authorities.
- Takes effect immediately to provide urgent financial relief to wildfire victims.
This bill was recently introduced. Email the authors to let them know what you think about it.
Introduced By
Assembly Member Hadwick's tax relief measure creates exclusions from gross income for settlement payments received by residents and businesses affected by three major California wildfires. The legislation applies to settlements related to the 2021 Dixie Fire in Butte, Plumas, Lassen, Shasta, and Tehama Counties; the 2022 Mill Fire in Siskiyou County; and the 2024 Park Fire in Butte and Tehama Counties.
The exclusions cover settlement payments made between 2022 and 2026 by Pacific Gas and Electric Company for the Dixie Fire, Roseburg Forest Products for the Mill Fire, and approved entities for the Park Fire. Eligible recipients include property owners, residents, and businesses that were located in the affected counties during the fires and received settlements for expenses or losses. Settlement entities must provide documentation to the Franchise Tax Board upon request to verify payment details.
To measure the program's reach, the Franchise Tax Board will report to the Legislature by December 2027 on the number of taxpayers who claimed the exclusions and the total amount of settlements paid. The provisions automatically expire on December 1, 2027. The bill includes an urgency clause for immediate implementation upon passage.
Sharon Quirk-SilvaD Assembly Member | Committee Member | Not Contacted | |
Mike GipsonD Assembly Member | Committee Member | Not Contacted | |
Tom LackeyR Assembly Member | Bill Author | Not Contacted | |
Megan DahleR Senator | Bill Author | Not Contacted | |
Tina McKinnorD Assembly Member | Committee Member | Not Contacted |
| Bill Number | Title | Introduced Date | Status | Link to Bill |
|---|---|---|---|---|
SB-542 | Personal Income Tax Law: Corporation Tax Law: wildfires: exclusions. | February 2023 | Vetoed |