CA SB124

Modifies Section 17052 of the Revenue and Taxation Code to allow the earned income tax credit (EITC) for taxable years beginning on or after January 1, 2020, to individuals who use a federal individual taxpayer identification number (ITIN) instead of a social security number, but only if they have a qualifying child younger than 6 years old.

Removes the exclusion of certain social security numbers (those issued to non-citizens or benefit applicants) from EITC eligibility requirements for taxable years beginning on or after January 1, 2020.

Expands eligibility for the refundable young child tax credit to qualified taxpayers with ITINs who have at least one qualifying child younger than 6 years old, as the credit is tied to EITC eligibility.

Authorizes payments from the continuously appropriated Tax Relief and Refund Account to refund excess EITC and young child tax credits to additional eligible taxpayers, creating an appropriation.

Takes effect immediately as a bill related to the annual Budget Act.