California Revenue and Taxation Code

§ 17052.2

RTC § 17052.2 Effective Jun 27, 2024Div. 2 · Part 10 · Ch. 2

Statute text

(a)(1) For each taxable year beginning on or after January 1, 2022, there shall be allowed against the “net tax,” as defined by Section 17039, a foster youth tax credit to a qualified taxpayer, in an amount as determined under paragraph (2).

(2)(A) The amount of the foster youth tax credit shall be equal to one thousand one hundred seventy-six dollars ($1,176), multiplied by the earned income tax credit adjustment factor for the taxable year, as specified in Section 17052.

(B)For taxable years beginning on or after January 1, 2022, the amount in subparagraph (A) shall be recomputed annually in the same manner as the recomputation of income tax brackets under subdivision (h) of Section 17041.

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Legislative history

Amended by Stats. 2024, Ch. 34, Sec. 17. (SB 167) Effective June 27, 2024.