CA SB1210

Establishes the California Jumpstart Act allowing insurance companies to claim tax credits against premium taxes for relief contributions made to certified relief funds beginning in taxable year 2022.

Limits total investment authority to $375 million and total tax credits to $300 million, with the State Treasurer accepting applications for relief fund certification from 30 days after enactment through January 1, 2026.

Requires relief funds to invest in small businesses located in relief zones (low-income areas, high unemployment areas, or rural locations) and track job creation, with at least 80% of funding from investor relief contributions.

Imposes compliance requirements including annual reporting, maintenance of 100% investment of relief authority within two years, and allows the Treasurer to recapture credits if funds make distributions exceeding earnings or violate other conditions.

Creates the Treasury Relief Investment Fund to support the Treasurer's administration of the program and requires outreach to underrepresented business owners including minority, women, disabled veterans, and LGBTQ-owned enterprises.