CA AB1818

Allows a 15% tax credit against personal income tax and corporation tax for qualified taxpayers on royalties paid for University of California patents for taxable years beginning January 1, 2012 or later.

Defines "qualified patent" as a University of California-owned patent where research and development was funded in whole or in part by amounts eligible for existing research credits.

Requires qualified taxpayers to commercialize the licensed patent within California for at least five consecutive years to claim the credit.

Permits unused credits to be carried forward for up to eight years to offset future tax liability.

Takes effect immediately as a tax levy.