California Revenue and Taxation Code

§ 24309.1

RTC § 24309.1 Effective Sep 29, 2022Div. 2 · Part 11 · Ch. 6 · Art. 2

Statute text

(a)For taxable years beginning before January 1, 2027, gross income does not include any qualified amount received by a qualified taxpayer.

(b)For purposes of this section:

(1)“Qualified amount” means any amount received in settlement by a qualified taxpayer from Southern California Edison in settlement for claims relating to the 2017 Thomas Fire or the 2018 Woolsey Fire.

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Legislative history

Added by Stats. 2022, Ch. 841, Sec. 3. (SB 1246) Effective September 29, 2022. Repealed as of December 1, 2027, by its own provisions.