Income taxes: credit: lodging for displaced persons.

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill, for taxable years beginning on or after January 1, 2024, and before January 1, 2029, would allow a credit against those taxes to a taxpayer operating a hotel, motel, inn, bed and breakfast, or other similar transient lodging, as specified, in an amount equal to 50% of the nightly rate, as defined, of each unit, as defined, that the taxpayer provides free of charge to displaced persons during a state of emergency declared by the Governor or President, times the number of nights displaced persons occupied the unit, not to exceed $2,000 per room and not to exceed $10,000 total per state of emergency declaration. The bill would require a qualified taxpayer claiming the credit to provide to the Franchise Tax Board, upon request, statements with specified information from all displaced persons who occupied a unit in the qualified lodging free of charge. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. The bill would make specified findings detailing the goals, purposes, and objectives of the above-described tax credit, performance indicators for determining whether the credit meets those goals, purposes, and objectives, and data collection requirements. This bill would take effect immediately as a tax levy.