California Revenue and Taxation Code

§ 17138.7

RTC § 17138.7 Effective Sep 17, 2025Div. 2 · Part 10 · Ch. 3 · Art. 3

Statute text

(a)For taxable years beginning on or after January 1, 2021, and before January 1, 2030, gross income shall not include any qualified amount received by a qualified taxpayer in the taxable year.

(b)For purposes of this section, the following definitions shall apply:

(1)“Qualified amount” means any amount received from a settlement entity by a qualified taxpayer in connection with a qualified wildfire disaster in California.

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Legislative history

Amended by Stats. 2025, Ch. 112, Sec. 1. (SB 159) Effective September 17, 2025. Repealed as of December 1, 2030, by its own provisions.