Session:   
Updated:   2026-04-07

Home - Bills - Bill - Authors - Dates - Locations - Analyses - Organizations

Measure
Authors Tangipa  
Subject Personal income tax: credit: first-time homebuyer program: required repairs.
Relating To relating to taxation, to take effect immediately, tax levy.
Title An act to add and repeal Section 17053.45 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
Last Action Dt 2026-03-23
State Amended Assembly
Status In Committee Process
Flags
Vote Req Approp Fiscal Cmte Local Prog Subs Chgs Urgency Tax Levy Active?
Majority No Yes No None Yes Yes Y
i
Leginfo Link  
Bill Actions
2026-03-24     Re-referred to Com. on REV. & TAX.
2026-03-23     From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
2026-03-16     In committee: Set, first hearing. Hearing canceled at the request of author.
2026-02-23     Referred to Com. on REV. & TAX.
2026-02-05     From printer. May be heard in committee March 7.
2026-02-04     Read first time. To print.
Versions
Amended Assembly     2026-03-23
Introduced     2026-02-04
Analyses TBD
Latest Text Bill Full Text
Latest Text Digest

The Personal Income Tax Law allows various credits against the taxes imposed by those laws.

This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2028, and before January 1, 2033, in an amount equal to 40% of the amount paid or incurred, not to exceed $25,000, during the taxable year for repairs that are required as a condition of closing the sale of real property to a purchaser utilizing a first-time homebuyer assistance program, as specified. The bill would prohibit a taxpayer from claiming more than one credit for a taxable year or more than one taxpayer from claiming the credit with respect to a property for a taxable year.

Existing law requires any bill authorizing a new tax expenditure, as defined, to include tax credits, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements.

This bill would include findings and reporting requirements in compliance with this requirement.

This bill would take effect immediately as a tax levy.