CA AB 1726
in committeeNatural disasters: catastrophe savings accounts: personal income tax.
California · 2025-2026 Regular Session · lower
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Quick answers
Did CA AB 1726 pass?
Not yet. CA AB 1726 is in committee and has not come to a final vote. Latest recorded action (2026-05-14): In committee: Held under submission.
What is CA AB 1726 about?
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions from gross income in calculating adjusted gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would allow a deduction from adjusted gross income for amounts contributed by a qualified taxpayer, as defined, to a catastrophe savings account, in accordance with specified provisions. The bill would define "catastrophe savings account" to mean a savings account or money market account with a financial institution that, among other requirements, is established to pay for the qualified catastrophe expenses, as defined, of a qualified taxpayer establishing the account, as provided. The bill would subject a qualified taxpayer to a specified penalty if they use a distribution from a catastrophe savings account to cover an expense other than a qualified catastrophe expense. The Personal Income Tax Law, in conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would provide an exclusion from gross income for interest earned by a catastrophe savings account, as specified. Existing law requires any bill authorizing a new tax expenditure, as defined, to include tax credits, deductions, exclusions, or exemptions, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would include findings and reporting requirements in compliance with this requirement. This bill would take effect immediately as a tax levy.
Who sponsors CA AB 1726?
Calderon is the primary sponsor of CA AB 1726.
Description
The Personal Income Tax Law, in modified conformity with federal income tax laws, allows various deductions from gross income in calculating adjusted gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would allow a deduction from adjusted gross income for amounts contributed by a qualified taxpayer, as defined, to a catastrophe savings account, in accordance with specified provisions. The bill would define "catastrophe savings account" to mean a savings account or money market account with a financial institution that, among other requirements, is established to pay for the qualified catastrophe expenses, as defined, of a qualified taxpayer establishing the account, as provided. The bill would subject a qualified taxpayer to a specified penalty if they use a distribution from a catastrophe savings account to cover an expense other than a qualified catastrophe expense. The Personal Income Tax Law, in conformity with federal income tax law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income. This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, would provide an exclusion from gross income for interest earned by a catastrophe savings account, as specified. Existing law requires any bill authorizing a new tax expenditure, as defined, to include tax credits, deductions, exclusions, or exemptions, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would include findings and reporting requirements in compliance with this requirement. This bill would take effect immediately as a tax levy.
- Introduced
- —
- Latest action
- 2026-05-14 — In committee: Held under submission.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Calderonauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-05-14
Joint Rule 62(a), file notice suspended. (Page 5030.)
2026-05-14
In committee: Held under submission.
2026-05-13
In committee: Set, first hearing. Referred to APPR. suspense file.
referral-committee
2026-04-28
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 27). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2026-04-27
In committee: Set, first hearing. Referred to REV. & TAX. suspense file.
referral-committee
2026-04-21
From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 9. Noes 0.) (April 20). Re-referred to Com. on REV. & TAX.
committee-passage,committee-passage-favorable,referral-committee
2026-03-16
Referred to Coms. on B. & F. and REV. & TAX.
referral-committee
2026-02-06
From printer. May be heard in committee March 8.
2026-02-05
Read first time. To print.
reading-1
Versions
Documents
- application/pdf
- text/html
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
Votes
Do pass and be re-referred to the Committee on [Revenue and Taxation]
2026-04-20 · pass · 9-0
Member-level votes (9)
- Valencia: yes
- Blanca Rubio: yes
- Dixon: yes
- Soria: yes
- Chen: yes
- Fong: yes
- Krell: yes
- Schiavo: yes
- Michelle Rodriguez: yes
Do pass and be re-referred to the Committee on [Appropriations]
2026-04-27 · pass · 7-0
Member-level votes (7)
- Carrillo: yes
- Gipson: yes
- Quirk-Silva: yes
- Sanchez: yes
- McKinnor: yes
- DeMaio: yes
- Michelle Rodriguez: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T01:34:27.960412Z
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