Income taxes: Every Drop Counts Tax Credit.

The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. This bill, under both laws, for taxable years beginning on and after January 1, 2016, and before January 1, 2021, or an earlier date in the event of a specified occurrence, would allow a credit to a taxpayer participating in a lawn replacement rebate program, as defined, in an amount equal to 25% of the costs paid or incurred by the taxpayer to replace conventional lawn on the qualified taxpayer's property during that taxable year, not to exceed $1,500, as specified. The bill would make findings and declarations in this regard. This bill would take effect immediately as a tax levy.