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CA AB2205
Bill
Status
Introduced
2/19/2026
Primary Sponsor
Sharon Quirk-Silva
Click for details
AI Summary
- Extends the New Employment Credit from taxable years beginning before January 1, 2026 to taxable years beginning before January 1, 2031
- Extends the repeal date of the credit provisions from December 1, 2029 to December 1, 2034
- Credit equals 35% of qualified wages paid to qualified full-time employees hired in designated census tracts or economic development areas, with qualified wages defined as those exceeding 150% of minimum wage but not exceeding 350% of minimum wage
- Exempts certain industries from geographic requirements, including semiconductor manufacturing, electric airplane manufacturing, lithium production, and lithium battery manufacturing, if they meet specified federal funding or state tax criteria
- Takes effect immediately as a tax levy and requires majority vote for passage
Legislative Description
Personal Income Tax Law: Corporation Tax Law: New Employment Credit.
Last Action
Referred to Com. on REV. & TAX.
3/9/2026
Committee Referrals
Revenue and Taxation3/9/2026
Full Bill Text
No bill text available