California Revenue and Taxation Code

§ 61015

RTC § 61015 Effective Jun 29, 2020Div. 2 · Part 32

Statute text

(a)The amount of the Individual Shared Responsibility Penalty imposed on a responsible individual for a taxable year with respect to the failures described in Section 61010 shall be equal to the lesser of either of the following amounts:

(1)The sum of the monthly penalty amounts determined under subdivision (b) for months in the taxable year during which one or more of the failures described in Section 61010 occurred.

(2)An amount equal to one-twelfth of the state average premium for qualified health plans that have a bronze level of coverage for the applicable household size involved, and are offered through the Exchange for plan years beginning in the calendar year with or within which the taxable year ends, multiplied by the number of months in which a failure described in Section 61010 occurred.

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Legislative history

Amended by Stats. 2020, Ch. 8, Sec. 17. (AB 85) Effective June 29, 2020.