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CA AB2384
Bill
Status
2/18/2020
Primary Sponsor
Steven Choi
Click for details
AI Summary
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Allows California taxpayers a deduction for health savings account (HSA) contributions for taxable years beginning January 1, 2020 through December 31, 2024, conforming to federal tax law under Internal Revenue Code Section 62(a)(19).
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Permits rollovers from Archer Medical Savings Accounts, health flexible spending arrangements, and health reimbursement accounts to HSAs during the 2020-2024 period.
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Suspends application of certain sections of California Revenue and Taxation Code relating to HSAs for the 2020-2024 period, replacing them with federal HSA rules with specified modifications.
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Requires the Franchise Tax Board to report biennially on the number of HSA deductions claimed and total dollar amounts deducted during the operative period.
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Takes effect immediately as a tax levy, with all provisions expiring January 1, 2025.
Legislative Description
Income tax: health savings accounts.
Last Action
In committee: Hearing postponed by committee.
3/17/2020