California legislation · 2025-2026 Regular Session
California AB2222: Personal Income Tax Law and Corporation Tax Law: credits: local news outlets: business expense deduction: excessive employee remuneration.
Status: Chaptered, September 30, 2026
What the bill says
An act to amend Sections 17039, 17271, 23036, and 24343 of, and to add and repeal Sections 17053.76 and 23633 of, the Revenue and Taxation Code, relating to taxation, and making an appropriation therefor. taxation, and making an appropriation therefor Personal Income Tax Law and Corporation Tax Law: credits: local news outlets: business expense deduction: excessive employee remuneration. (1) The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit for specified new hiring and employment…
From the chaptered text, September 30, 2026:
An act to amend Sections 17039, 17271, 23036, and 24343 of, and to add and repeal Sections 17053.76 and 23633 of, the Revenue and Taxation Code, relating to taxation, and making an appropriation therefor. taxation, and making an appropriation therefor Personal Income Tax Law and Corporation Tax Law: credits: local news outlets: business expense deduction: excessive employee remuneration. (1) The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including a credit for specified new hiring and employment. Existing law establishes the continuously appropriated Tax Relief and Refund Account and provides that payments required to be made to taxpayers or other persons from the Personal Income Tax Fund are to be paid from that account. Existing law also establishes the continuously appropriated Corporation Tax Fund in the State Treasury for the purpose of making refunds pursuant to existing law. This bill would, for taxable years beginning on or after January 1, 2027, and before January 1, 2032, allow a credit against those taxes to a qualified taxpayer, as defined, equal to $20,000 for each qualifying journalist, as defined, continuously employed on a full-time basis by the taxpayer, not to exceed 5 qualifying journalists. The bill would also allow a credit of $15,000 for each qualifying journalist continuously employed on a …