Keep Jobs in California Act of 2026

This bill, known as the Keep Jobs in California Act of 2026, prevents states from levying taxes on nonresident individuals that apply to assets held before the tax law was enacted. It directly affects states that might otherwise tax the assets of people who do not live in those states, specifically targeting retroactive taxation. The law prohibits states from imposing such taxes if the asset value is attributed to a time period prior to when the tax was established. The measure would become effective on January 1, 2026, and applies to any state attempting to tax nonresident assets retroactively.