Prohibits states from imposing retroactive taxes on assets of nonresident individuals.
The Keep Jobs in California Act of 2026 prohibits states from imposing a retroactive tax on the assets of nonresident individuals. This means that states cannot tax the assets of people who do not reside in the state for any period before the tax is enacted. The Act aims to protect nonresidents from being taxed on assets they held before moving out of the state.
The filed bill text is too short for analysis.