CA AB 702
deadPersonal income tax: exclusions: interest income: theft.
California · 2025-2026 Regular Session · lower
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Quick answers
Did CA AB 702 pass?
No. CA AB 702 did not pass — it was defeated or died in the legislative process. Latest recorded action (2026-02-02): From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
What is CA AB 702 about?
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. Existing law, in modified conformity with federal income tax law, allows a deduction for specified investment interest, not to exceed the net investment income of the taxpayer for the taxable year, as provided. This bill, for taxable years beginning on or after January 1, 2026, would provide an exclusion from gross income for any amount of interest income that a taxpayer generates on an investment during the taxable year and, without the qualified taxpayer's consent and against the qualified taxpayer's will, is stolen, sold, or otherwise transferred, as specified. This bill would take effect immediately as a tax levy.
Who sponsors CA AB 702?
Ta is the primary sponsor of CA AB 702.
Description
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. Existing law, in modified conformity with federal income tax law, allows a deduction for specified investment interest, not to exceed the net investment income of the taxpayer for the taxable year, as provided. This bill, for taxable years beginning on or after January 1, 2026, would provide an exclusion from gross income for any amount of interest income that a taxpayer generates on an investment during the taxable year and, without the qualified taxpayer's consent and against the qualified taxpayer's will, is stolen, sold, or otherwise transferred, as specified. This bill would take effect immediately as a tax levy.
- Introduced
- —
- Latest action
- 2026-02-02 — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Taauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-02-02
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
committee-passage,failure
2026-01-31
Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
failure
2025-04-21
In committee: Set, first hearing. Hearing canceled at the request of author.
2025-03-24
In committee: Hearing postponed by committee.
2025-03-03
Referred to Com. on REV. & TAX.
referral-committee
2025-02-15
From printer. May be heard in committee March 17.
2025-02-14
Read first time. To print.
reading-1
Versions
Documents
Votes
Not provided by source.
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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