Taxation: Personal Income Tax Law: cost-of-living refundable tax credit.

Summary

The bill adds a new credit to the personal income tax that refunds eligible California residents a modest amount based on income, filing status and dependents. The credit is refundable, meaning any excess after offsetting tax liability is paid from the Tax Relief and Refund Account. It aims to ease the state's high cost‑of‑living pressures for low‑ and middle‑income households.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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