CA SB711

Updates California's conformity date to the Internal Revenue Code from January 1, 2015 to January 1, 2025 for taxable years beginning on or after January 1, 2025, automatically incorporating numerous federal tax law changes enacted over the past decade

Maintains California-specific exceptions to federal conformity, including non-conformity to federal provisions on health savings accounts, opportunity zones, qualified business income deductions (Section 199A), and the federal limitation on state and local tax deductions

Preserves California's alternative minimum tax (AMT) for individuals at 7% while federal AMT rules have changed, and maintains the state's own net operating loss carryover rules with modifications to carryback periods

Excludes from California conformity federal provisions on bonus depreciation (Section 168(k)), increased Section 179 expensing limits, and the federal limitation on business interest deductions (Section 163(j))

Declared an urgency statute effective immediately upon the Governor's signature (October 1, 2025) to provide tax relief and reduce administrative complexity from mismatches between state and federal tax law