California Revenue and Taxation Code

§ 17053.40

RTC § 17053.40 Effective Sep 19, 2025Div. 2 · Part 10 · Ch. 2

Statute text

(a)For taxable years beginning on or after January 1, 2026, and before January 1, 2036, there shall be allowed to qualified taxpayer, a credit against the “net tax,” as defined in Section 17039, in an amount equal to 20 percent of the qualified expenditures paid or incurred by the qualified taxpayer during the taxable year, not to exceed twenty million dollars ($20,000,000) per qualified taxpayer per taxable year.

(b)For purposes of this section:

(1)“Bank” means the California Infrastructure and Economic Development Bank established under Chapter 2 (commencing with Section 63021) of Division 1 of Title 6.7 of the Government Code.

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Legislative history

Added by Stats. 2025, Ch. 119, Sec. 64. (SB 254) Effective September 19, 2025. Repealed as of December 1, 2036, by its own provisions.