CA AB2355

Excludes from sales and use tax exemptions any person organized for profit that contracts or subcontracts to build, maintain, or provide materials for President Trump's Border Wall, effective January 1, 2019.

Defines "President Trump's Border Wall" as any physical wall or barrier constructed along the U.S.-Mexico border consistent with Trump's campaign promises or Executive Order 13767, regardless of funding source.

Prohibits the California Alternative Energy and Advanced Transportation Financing Authority from approving projects providing sales and use tax exclusions for applicants that contract to build or maintain the border wall, effective January 1, 2019.

Disallows research expense credits, hiring credits for designated economic areas, and California Competes Tax Credits for taxpayers contracting to build or maintain the border wall for taxable years beginning January 1, 2019 or later.

Requires two-thirds vote for passage as the bill results in higher taxes under California Constitution Article XIII A, Section 3.