Budget & Economy

Expands state authority to investigate illegal gambling activities outside of licensed establishments. Authorizes major league sports teams to conduct charitable raffles at championship games in home venues. Requires sports organizations to pay registration fees and report detailed raffle financial information. Mandates that 50% of raffle proceeds must go to California charitable purposes.

Establishes a local tax or bond measures framework with expanded voter disclosures. Requires MIS for multi-rate taxes or bonds detailing purpose, rates, duration, and debt service. Allows ballot to refer to the county voter guide for rate or debt details. Sets 88-day MIS filing, enables electronic delivery, and notes MIS estimates do not bind the tax.

Shifts prelicensing from 20 hours to a 12-hour ethics/code requirement. Establishes a curriculum board to shape exams, CE curricula, and provider standards. Implements a fee-based framework for ethics course certification and CE providers. Creates cargo shipper limited license with no exam and vehicle service contract licensing.

Establishes a five-mile radius reassessment for Chiquita Canyon to reflect value declines since 2022. Requires notices of value changes and refunds for prior overpayments. Extends installment relief and suspends taxes through 2030 if payments were timely by Jan 7, 2025. Enacts hardship-based penalty cancellations tied to shelter-in-place orders and the landfill event.

Establishes GO-Biz to craft industry strategies for blueprint sectors with quantum priority. Requires quantum technology strategy submission by July 1, 2026 with regional input. Ensures six elements are included: overview, risks, projects, policies, outcomes, public info. Requires no new appropriation and relies on oversight through reporting.

Authorizes the CFPA to access bonds and loans through IBank to fund claims. Requires prior approval from the Insurance Commissioner for financing actions. Establishes a continuous lien on collateral to secure financing. Bonds are not state debt and may be repaid from CFPA assets, with oversight.

Prohibits insurers from canceling commercial property insurance in wildfire-affected areas for one year after emergencies. Protects apartment complexes, senior living facilities, and other commercial residential properties from coverage loss. Allows cancellation only if property owners are negligent or buildings become otherwise uninsurable.

Increases maximum fines for trade conspiracy violations to $6 million for corporations and $1 million for individuals. Establishes a new civil penalty of up to $1 million per violation of trade conspiracy laws. Requires courts to consider factors like misconduct severity and violator's net worth when determining penalties. Allows penalties to be combined with other legal remedies available under state law.

Requires large insurers to submit annual reports on reinsurance programs and climate risk models starting March 2026. Extends deadlines for homeowners to collect full replacement costs to 36 months during state emergencies. Increases advance payments for personal property losses to 60% of policy limits during declared emergencies. Mandates insurers grant extensions for proof of loss submissions when policyholders face unavoidable delays.

Establishes digital financial assets as property subject to California's unclaimed property law after 3 years of inactivity. Requires businesses to notify owners by mail or electronically 6-12 months before digital assets become unclaimed. Mandates transfer of unclaimed digital assets to state-approved custodians who meet strict security requirements. Authorizes the state to convert unclaimed digital assets to regular currency between 18-20 months after reporting.

Expands motion picture tax credit data collection to track workforce diversity and local economic impacts. Requires film productions to report employee demographics including disability, veteran, and LGBTQ+ status. Mandates annual public reports on diversity trends and economic impacts in the film industry. Takes effect only after receiving dedicated funding from the state legislature.

Extends base-year value transfer window for 2025 fires by 3 years. Establishes a new valuation for real property damaged in 2025 fires using damage-date value. Conditionally operative: dependent on SB 663 and AB 245 being enacted last. No appropriation; local reimbursements for property tax losses are not provided.

Creates the disaster-impacted small business recovery fund and grants program. Allocates 90% to grants and 5% each to technical assistance and capital infusion. Requires dollar-for-dollar matches, grants range $2,500 to $100,000, retroactive use allowed. Requires a 180-day report after each emergency and a 2032 sunset.

Extends the property tax exclusion filing deadline to three years for properties damaged by specific 2025 wildfires. Requires claims for wildfire-related property tax exclusions to be filed before January 1, 2031. Maintains property tax benefits when real estate transfers occur between eligible family members. Allows processing fees up to $175 for late exclusion claims if authorized by county supervisors.

Authorizes 10 new liquor licenses for restaurants in Colusa County beyond the standard population limit. Extends until 2029 the program allowing beer makers to give free branded glassware to bars and restaurants. Prohibits transferring the new Colusa County licenses outside the county or selling them above original cost.

Revises cannabis excise tax to 19% for Jul-Sep 2025, then 15% Oct 2025-Jun 2028. Establishes biannual rate adjustments to approximate prior cultivation tax revenue, capped at 19%. Requires annual interagency revenue reporting and data sharing, with sunset in 2029. Maintains at-sale payment, retailer collection, separate invoicing, and medicinal exemptions.

Updates local investment rules by extending maturity limits. Extends eligible prime quality paper maturity to 397 days. Delays major investment cap changes and zero-interest rules to 2031. Imposes penalties for late financial reports at 10 months after year end.

Excludes charitable remainder trusts from incomplete gift nongrantor trust status. Clarifies the exclusion is declaratory of existing law. Maintains grantor-level taxation for incomplete gift trusts unless exempt. Franchise Tax Board may issue rules to implement the change.

Authorizes districts with transportation tax authority to enact a retail tax by initiative. Requires the initiative to stay within the maximum rate and include a transportation expenditure plan with accountability. May create state-mandated local costs for county elections with reimbursement rules.

Extends the Green Empowerment Zone to 2040 and adds four new cities. Declares the act an urgency statute and takes effect immediately. Expands board to eight stakeholder groups including environmental justice directors. Establishes an executive committee by 2026 to develop metrics and post annual reports.

Extends base-year value transfer window to eight years for listed fires. Expands local reassessment authority with extended filing window for disasters. Expands veteran exemption amounts and adds disaster reconstruction eligibility. Creates temporary use-based exemption for disaster-damaged property with 2033 sunset.

Ratifies the fourth amendment to the Chukchansi tribal gaming compact. Exempts specified compact actions from CEQA review. Preserves CEQA duties for actions not listed as exempt. Declares it an urgency statute with immediate effect and no appropriation.

Expands exemptions for exempt bus operation to counties owning local transit systems. Imposes a 1-cent-per-gallon levy on exempt fuels paid to the CDTFA. Shifts administration from the State Board of Equalization to the California Department of Tax and Fee Administration. Operative provisions take effect the first calendar quarter after more than 90 days.

Authorizes SLOCOG to levy up to 1% transactions and use tax with voter approval. Excludes the new rate from the county cap in rate calculations. Sets a 2026–2032 voting window and requires constitutional approval.

Requires GO-Biz to study tariff impacts on California international trade and aid small businesses. Convenes the Freight Advisory Committee within one calendar quarter to scope the study. Submits the study to the Legislature by January 1, 2029 with public-disclosure compliance. Sunsets the mandate on January 1, 2031 and carries no new appropriation.