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CA SB1343
Bill
Status
Introduced
2/20/2026
Primary Sponsor
Benjamin Allen
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AI Summary
- Creates an income tax credit equal to the sales and use tax paid on qualified purchases for rebuilding a primary residence damaged by a Governor-declared natural disaster
- Applies to taxable years from January 1, 2027, through January 1, 2032, with a three-year covered period from the date of each disaster
- Covers major appliances (up to $3,500 per item), residential furniture (up to $3,500 per item), and building supplies (up to $500 per item) including roofing, doors, windows, flooring, and construction materials
- Caps the total credit at $10,000 per natural disaster, with unused amounts carried over to subsequent tax years until exhausted
- Requires the Legislative Analyst's Office to review the credit's effectiveness and economic impact by January 1, 2029
Legislative Description
Income tax credit: sales and use tax paid: natural disasters.
Last Action
Referred to Com. on REV. & TAX.
3/4/2026
Committee Referrals
Revenue and Taxation3/4/2026
Rules2/20/2026
Full Bill Text
No bill text available