Expands the renter’s credit for low- and middle-income renters in California.

The bill aims to expand the renter’s credit to help low- and middle-income renters in California. It adjusts the credit amounts based on adjusted gross income and recomputes these amounts annually using the California Consumer Price Index. The Franchise Tax Board is responsible for these computations and must report on the number of taxpayers claiming the credit and the average credit amount. The credit is available for qualified renters who meet residency and occupancy requirements.

Expands the renter’s credit for low- and middle-income renters in California.

The bill aims to expand the renter’s credit to help low- and middle-income renters in California. It adjusts the credit amounts based on adjusted gross income and recomputes these amounts annually using the California Consumer Price Index. The Franchise Tax Board is responsible for these computations and must report on the number of taxpayers claiming the credit and the average credit amount. The credit is available for qualified renters who meet residency and occupancy requirements.