Bill Commons

CA AB 490

dead

Personal Income Tax Law: deduction from gross income: car loan interest payments.

California · 2025-2026 Regular Session · lower

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, 2026, and before January 1, 2031, would allow a deduction from adjusted gross income for an amount equal to the interest paid on a qualified motor vehicle loan, as defined. The bill would limit this deduction to one qualified motor vehicle loan per taxpayer. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill also would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Introduced
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Status date
—
Latest action
2026-02-02 — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Bill type
bill
Last updated
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Subjects

Sponsors

  • Tangipaauthor

Committees

Not provided by source.

Action timeline

  1. 2025-02-10

    Read first time. To print.

    reading-1

  2. 2025-02-11

    From printer. May be heard in committee March 13.

  3. 2025-02-24

    Referred to Com. on REV. & TAX.

    referral-committee

  4. 2025-03-17

    In committee: Set, first hearing. Referred to REV. & TAX. suspense file.

    referral-committee

  5. 2025-05-05

    In committee: Set, second hearing. Held under submission.

  6. 2026-01-31

    Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

    failure

  7. 2026-02-02

    From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

    committee-passage,failure

Versions

Documents

Votes

Not provided by source.

Related bills

No related bills recorded for this bill.

Official source

http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260AB490

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T01:34:27.960412Z

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