CA SB1144

Increases the personal income tax exemption credit for dependents from $475 to $700 per dependent for taxable years beginning January 1, 2026, through December 31, 2030

Requires the Franchise Tax Board to adjust the $700 credit amount annually for inflation starting with taxable years beginning January 1, 2027

Returns the credit to the standard amount ($227, adjusted for inflation) for taxable years beginning on or after January 1, 2031

Takes effect immediately upon enactment as a tax levy measure