California ABX13: Personal Income Tax credit for fire-resistant home improvements in high-risk fire areas.

California ABX13 would allow a personal income tax credit for fire-resistant home improvements in high-risk fire areas. The credit, equal to 40 percent of qualified expenses, applies to improvements such as a Class A fire-rated roof and enclosed eaves. The credit is available for each taxable year beginning on or after January 1, 2025, and before January 1, 2030. The credit is limited to $400 per taxable year and $2,000 cumulatively. The bill includes performance indicators and data collection requirements. The bill would take effect immediately as a tax levy.

California ABX13: Personal Income Tax credit for fire-resistant home improvements in high-risk fire areas.

California ABX13 would allow a personal income tax credit for fire-resistant home improvements in high-risk fire areas. The credit, equal to 40 percent of qualified expenses, applies to improvements such as a Class A fire-rated roof and enclosed eaves. The credit is available for each taxable year beginning on or after January 1, 2025, and before January 1, 2030. The credit is limited to $400 per taxable year and $2,000 cumulatively. The bill includes performance indicators and data collection requirements. The bill would take effect immediately as a tax levy.