Personal Income Tax Law: Corporation Tax Law: credits: domestic violence survivor housing.

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws. This bill would, for taxable years beginning on or after January 1, 2023, and before January 1, 2028, allow a credit of $5,000 against the taxes imposed by those laws to a qualified taxpayer. The bill would define a qualified taxpayer for this purpose to mean a taxpayer that owns and leases qualified rental property, as defined, to a qualified nonprofit, as defined, pursuant to a qualified lease. The bill would require the qualified taxpayer to obtain certification, under penalty of perjury, from the qualified nonprofit that the qualified rental property will be used to provide housing to survivors of domestic violence, as provided. By expanding the crime of perjury, this bill would establish a state-mandated local program. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. This bill would take effect immediately as a tax levy.