CA AB2712

Establishes the California Universal Basic Income (CalUBI) Program administered by the Franchise Tax Board, providing eligible California residents $1,000 per month in unconditional cash payments.

Eligibility requires residents to be 18 or older, have lived in California for at least 3 consecutive years, not be incarcerated, and have income not exceeding 200% of median per capita income for their county.

CalUBI income is excluded from state income taxation and cannot be considered when calculating state tax credits or determining eligibility for state-funded assistance programs.

Requires the California Department of Tax and Fee Administration to submit a report by July 1, 2024, analyzing feasibility of establishing a new state tax (including value-added tax, service tax, or corporate tax increase) to finance the program and projecting expected tax revenue.

Makes all bill provisions severable, ensuring remaining provisions remain valid if any portion is ruled invalid.