veeto
Home
Bills
Influence
Feedback
hamburger
    Privacy PolicyResources
    © 2025 Veeto.
    SB-566
    Budget & Economy

    Real property tax: Personal Income Tax Law: homeowners’ exemption: renter’s credit.

    Introduced
    CA
    ∙
    2025-2026 Regular Session
    0
    0
    Track
    Track

    Key Takeaways

    • Increases property tax exemption from $7,000 to $50,000 for homeowners aged 62 and older starting in 2026.
    • Raises the renter's tax credit to $550 for qualified joint filers and $275 for individuals aged 62 and older.
    • Requires local governments to implement changes without state reimbursement for lost tax revenue.
    • Takes effect immediately as a tax levy with benefits beginning in 2026.

    Summary

    Senator Grove's proposal to modify California's homeowner and renter tax benefits would increase the homeowners' property tax exemption from $7,000 to $50,000 for residents aged 62 and older, beginning in fiscal year 2026-27. The legislation also raises the renter's tax credit for eligible seniors to $550 for joint filers and $275 for individual filers, up from the current $120 and $60 respectively.

    The bill maintains existing eligibility requirements for the homeowners' exemption, including provisions for temporary displacement due to disasters or medical care. Properties that are rented, vacant, under construction, or serving as vacation homes remain ineligible, as do properties receiving veterans' exemptions. For renters, the enhanced credit applies to those with adjusted gross incomes under $50,000 for joint filers and $25,000 for individuals, with these thresholds continuing to adjust annually for inflation.

    Local governments would not receive state reimbursement for property tax revenue reductions resulting from the increased homeowners' exemption. The Franchise Tax Board must track utilization rates and average credit amounts, reporting annually to legislative committees beginning May 2027 to measure the program's reach among older homeowners and renters.

    Key Dates

    Next Step
    Referred to the Senate Standing Committee on Revenue and Taxation
    Next Step
    Senate Committee
    Referred to the Senate Standing Committee on Revenue and Taxation
    Hearing has not been scheduled yet
    Senate Revenue and Taxation Hearing
    Senate Committee
    Senate Revenue and Taxation Hearing
    Do pass, but first be re-referred to the Committee on [Appropriations]
    Senate Revenue and Taxation Hearing
    Senate Committee
    Senate Revenue and Taxation Hearing
    [First] hearing set for [05-14-2025]: Failed passage in Committee. Reconsideration granted
    Introduced
    Senate Floor
    Introduced
    Introduced. Read first time. To Com. on RLS. for assignment. To print.

    Contacts

    Profile
    Shannon GroveR
    Senator
    Bill Author
    Not Contacted
    Not Contacted
    Profile
    Tim GraysonD
    Senator
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Tom UmbergD
    Senator
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Juan AlanisR
    Assemblymember
    Bill Author
    Not Contacted
    Not Contacted
    Profile
    Angelique AshbyD
    Senator
    Committee Member
    Not Contacted
    Not Contacted
    0 of 7 row(s) selected.
    Page 1 of 2
    Select All Legislators
    Profile
    Shannon GroveR
    Senator
    Bill Author
    Profile
    Tim GraysonD
    Senator
    Committee Member
    Profile
    Tom UmbergD
    Senator
    Committee Member
    Profile
    Juan AlanisR
    Assemblymember
    Bill Author
    Profile
    Angelique AshbyD
    Senator
    Committee Member
    Profile
    Jerry McNerneyD
    Senator
    Committee Member
    Profile
    Suzette ValladaresR
    Senator
    Committee Member

    Similar Past Legislation

    Bill NumberTitleIntroduced DateStatusLink to Bill
    California Competitiveness and Innovation Act.
    February 2020
    Failed
    View Bill
    California Competitiveness and Innovation Act.
    January 2018
    Failed
    View Bill
    Taxation: homeowners’ exemption and renters’ credit.
    February 2017
    Failed
    View Bill
    Showing 3 of 3 items
    Page 1 of 1

    Get Involved

    Act Now!

    Email the authors or create an email template to send to all relevant legislators.

    Introduced By

    Shannon Grove
    Shannon GroveR
    California State Senator
    Co-Author
    Juan Alanis
    Juan AlanisR
    California State Assembly Member
    10% progression
    Bill has been formally introduced and read for the first time in its house of origin (2/20/2025)

    Latest Voting History

    View History
    May 14, 2025
    PASS
    Senate Committee
    Senate Revenue and Taxation Hearing
    AyesNoesNVRTotalResult
    5005PASS

    Key Takeaways

    • Increases property tax exemption from $7,000 to $50,000 for homeowners aged 62 and older starting in 2026.
    • Raises the renter's tax credit to $550 for qualified joint filers and $275 for individuals aged 62 and older.
    • Requires local governments to implement changes without state reimbursement for lost tax revenue.
    • Takes effect immediately as a tax levy with benefits beginning in 2026.

    Get Involved

    Act Now!

    Email the authors or create an email template to send to all relevant legislators.

    Introduced By

    Shannon Grove
    Shannon GroveR
    California State Senator
    Co-Author
    Juan Alanis
    Juan AlanisR
    California State Assembly Member

    Summary

    Senator Grove's proposal to modify California's homeowner and renter tax benefits would increase the homeowners' property tax exemption from $7,000 to $50,000 for residents aged 62 and older, beginning in fiscal year 2026-27. The legislation also raises the renter's tax credit for eligible seniors to $550 for joint filers and $275 for individual filers, up from the current $120 and $60 respectively.

    The bill maintains existing eligibility requirements for the homeowners' exemption, including provisions for temporary displacement due to disasters or medical care. Properties that are rented, vacant, under construction, or serving as vacation homes remain ineligible, as do properties receiving veterans' exemptions. For renters, the enhanced credit applies to those with adjusted gross incomes under $50,000 for joint filers and $25,000 for individuals, with these thresholds continuing to adjust annually for inflation.

    Local governments would not receive state reimbursement for property tax revenue reductions resulting from the increased homeowners' exemption. The Franchise Tax Board must track utilization rates and average credit amounts, reporting annually to legislative committees beginning May 2027 to measure the program's reach among older homeowners and renters.

    10% progression
    Bill has been formally introduced and read for the first time in its house of origin (2/20/2025)

    Key Dates

    Next Step
    Referred to the Senate Standing Committee on Revenue and Taxation
    Next Step
    Senate Committee
    Referred to the Senate Standing Committee on Revenue and Taxation
    Hearing has not been scheduled yet
    Senate Revenue and Taxation Hearing
    Senate Committee
    Senate Revenue and Taxation Hearing
    Do pass, but first be re-referred to the Committee on [Appropriations]
    Senate Revenue and Taxation Hearing
    Senate Committee
    Senate Revenue and Taxation Hearing
    [First] hearing set for [05-14-2025]: Failed passage in Committee. Reconsideration granted
    Introduced
    Senate Floor
    Introduced
    Introduced. Read first time. To Com. on RLS. for assignment. To print.

    Latest Voting History

    View History
    May 14, 2025
    PASS
    Senate Committee
    Senate Revenue and Taxation Hearing
    AyesNoesNVRTotalResult
    5005PASS

    Contacts

    Profile
    Shannon GroveR
    Senator
    Bill Author
    Not Contacted
    Not Contacted
    Profile
    Tim GraysonD
    Senator
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Tom UmbergD
    Senator
    Committee Member
    Not Contacted
    Not Contacted
    Profile
    Juan AlanisR
    Assemblymember
    Bill Author
    Not Contacted
    Not Contacted
    Profile
    Angelique AshbyD
    Senator
    Committee Member
    Not Contacted
    Not Contacted
    0 of 7 row(s) selected.
    Page 1 of 2
    Select All Legislators
    Profile
    Shannon GroveR
    Senator
    Bill Author
    Profile
    Tim GraysonD
    Senator
    Committee Member
    Profile
    Tom UmbergD
    Senator
    Committee Member
    Profile
    Juan AlanisR
    Assemblymember
    Bill Author
    Profile
    Angelique AshbyD
    Senator
    Committee Member
    Profile
    Jerry McNerneyD
    Senator
    Committee Member
    Profile
    Suzette ValladaresR
    Senator
    Committee Member

    Similar Past Legislation

    Bill NumberTitleIntroduced DateStatusLink to Bill
    California Competitiveness and Innovation Act.
    February 2020
    Failed
    View Bill
    California Competitiveness and Innovation Act.
    January 2018
    Failed
    View Bill
    Taxation: homeowners’ exemption and renters’ credit.
    February 2017
    Failed
    View Bill
    Showing 3 of 3 items
    Page 1 of 1