Today's Law As Amended


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AB-2283 Income taxes: exclusion: turf removal water conservation program.(2017-2018)



As Amends the Law Today


SECTION 1.

 Section 17138.2 of the Revenue and Taxation Code is amended to read:

17138.2.
 (a) For taxable years beginning on or after January 1, 2014, and before January 1, 2024, gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program.
(b) This section shall remain in effect only until December 1, 2024, and as of that date is repealed.

SEC. 2.

 Section 24308.2 of the Revenue and Taxation Code is amended to read:

24308.2.
 (a) For taxable years beginning on or after January 1, 2014, and before January 1, 2024, gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by a local water agency or supplier for participation in a turf removal water conservation program.
(b) This section shall remain in effect only until December 1, 2024, and as of that date is repealed.
SEC. 3.
 This act provides for a tax levy within the meaning of Article IV of the California Constitution and shall go into immediate effect.