California Revenue and Taxation Code

§ 17131.1

RTC § 17131.1 Effective Jan 1, 2003Div. 2 · Part 10 · Ch. 3 · Art. 3

Statute text

(a)Gross income does not include any excludable restitution payments received by an eligible individual (or the individual’s heirs or estate) and any excludable interest.

(b)For purposes of this section:

(1)The basis of any property received by an eligible individual (or the individual’s heirs or estate) as part of an excludable restitution payment shall be the fair market value of that property as of the time of the receipt.

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Legislative history

Added by Stats. 2002, Ch. 701, Sec. 2. Effective January 1, 2003.