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CA SB657
Bill
Status
2/2/2026
Primary Sponsor
Roger Niello
Click for details
AI Summary
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Excludes from California gross income distributions from qualified tuition programs (529 plans like the Golden State Scholarshare Trust) that are transferred directly to a Roth IRA, conforming state law to federal tax treatment under the Consolidated Appropriations Act of 2023
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Applies to trustee-to-trustee transfers made during taxable years beginning on or after January 1, 2025, and before January 1, 2030
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Removes the requirement for detailed performance indicators tracking the number of taxpayers using the transfer and average transfer amounts, replacing it with a statement that no data is available to collect or report
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Takes effect immediately as a tax levy upon enactment
Legislative Description
Personal Income Tax Law: deferred compensation: exclusions: long-term qualified tuition program.
Last Action
Returned to Secretary of Senate pursuant to Joint Rule 56.
2/2/2026