Today's Law As Amended


Add To My Favorites | print page

AB-1728 Gross income exclusion: reparations.(1999-2000)



As Amends the Law Today


SECTION 1.

 Section 17155.5 is added to the Revenue and Taxation Code, to read:

17155.5.
 Gross income does not include any amount received as reparation payments paid by the German Foundation known as Remembrance, Responsibility, and the Future, or any other source of humanitarian reparations made for purposes of redressing the injustice done to persons who were required to perform slave or forced labor during World War II.
SEC. 2.
 This act provides for a tax levy within the meaning of Article IV of the Constitution and shall go into immediate effect.