CA SB1374

Repeals obsolete Section 19132.5 of the Revenue and Taxation Code related to Northridge earthquake relief and adds new Section 19132.5 for individual income tax penalty abatement.

Allows individual taxpayers a one-time abatement of failure-to-file or failure-to-pay timeliness penalties under Sections 19131 or 19132 for taxable years beginning January 1, 2021 or later.

Requires taxpayer to have never been previously required to file a California personal income tax return or never been granted abatement under this section to be eligible.

Requires taxpayer to have filed all required returns and paid or arranged to pay all outstanding tax, penalties, fees, and interest (excluding the penalty subject to abatement) before penalty can be abated.

Exempts Franchise Tax Board rules and procedures from the Administrative Procedure Act's rulemaking requirements.