Rev. & Tax. Code, § 24309.6 · Article 2. Exclusions
Rev. & Tax. Code, § 24309.6
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) For taxable years beginning on or after January 1, 2020, and before January 1, 2028, 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 a settlement entity in connection with the 2019 Kincade Fire.
(2) “Qualified taxpayer” means either of the following:
(A) Any taxpayer that owned real property located in the County of Sonoma during the 2019 Kincade Fire that paid or incurred expenses and received amounts from a settlement arising out of or pursuant to the 2019 Kincade Fire.
(B) Any taxpayer that had a place of business within the County of Sonoma during the 2019 Kincade Fire that paid or incurred expenses and received amounts from a settlement arising out of or pursuant to the 2019 Kincade Fire.
(3) “Settlement entity” means Pacific Gas and Electric Company or its subsidiary that is making the settlement payment to a qualified taxpayer.
(c) The settlement entity shall provide, upon request by the Franchise Tax Board, documentation of the settlement payments in the form and manner requested by the Franchise Tax Board.
(d) This section shall remain in effect only until December 1, 2028, and as of that date is repealed.
Notes and commentary — not statutory text
History
Added by Stats. 2023, Ch. 55, Sec. 13. (SB 131) Effective July 10, 2023. Repealed as of December 1, 2028, by its own provisions.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=24309.6.
- Text hash
- sha256 d12fc337141919ad8b793c6d4d7ccfd0a8f7ab3bacef49088e388baf41200a1e
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 1 provision
Provisions in this library whose text cites Rev. & Tax. Code, § 24309.6. Each shows the citation as that text prints it.
Revenue and Taxation Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.