CA SB140

Establishes a refundable workers' tax credit for taxable years beginning January 1, 2024, equal to the greater of union dues paid multiplied by an adjustment factor, or dues up to $100 annually, with annual revenue loss capped at $400,000,000.

Excludes Paycheck Protection Program loan forgiveness amounts under the PPP Extension Act of 2021 from gross income for taxable years beginning January 1, 2019 for both personal and corporation income tax purposes.

Repeals and replaces data-sharing provisions between the State Department of Social Services, State Department of Health Care Services, and Franchise Tax Board to include information about individuals eligible for California Earned Income Tax Credit and other antipoverty tax credits.

Transfers responsibility for making Better for Families Tax Refund payments from the State Controller to the Franchise Tax Board, with the one-time payment based on 2020 tax year filing status and income levels.

Appropriates $20,000 from the General Fund to the Franchise Tax Board for administering the new data-sharing provisions and takes effect immediately as a budget-related bill.