CA AB2799

Allows a tax credit equal to 3% of rent or lease payments received from federal Section 8 housing assistance vouchers for qualified taxpayers who own rental properties occupied by Section 8 recipients, effective for taxable years 2021-2025.

Limits the credit to 5 qualified properties per taxpayer per taxable year and requires verification from the local housing authority that the property qualifies before claiming the credit.

Credit amount is set to $0 unless otherwise specified in a separate Budget Act appropriations bill, effectively making the credit inoperable unless future legislation provides funding.

Applies to both Personal Income Tax (Section 17053.80) and Corporation Tax (Section 23680), with unused credits allowed to carry over for up to 8 succeeding years.

Establishes performance measures to track Section 8 voucher approvals and rental assistance outcomes to evaluate whether the tax credit achieves its goal of reducing homelessness.