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Author of AB 97 seeks tax exemption for Bobcat Fire settlements; bill moved to suspense file
Summary
Assemblymember Lackey presented AB 97 to exempt settlement payments arising from the 2020 Bobcat Fire from state taxation; the committee referred the bill to the suspense file after supporters emphasized fairness to victims and references to prior vetoes directing budgetary resolution.
AB 97, introduced by Assemblymember Lackey, would exempt settlement payments related to damages from the 2020 Bobcat Fire from California gross income.
Lackey told the committee the bill is similar in purpose to others on the docket, arguing it would prevent victims from being taxed on funds intended to replace losses. He noted that settlements in the Bobcat Fire matter are tied to Southern California Edison in that instance, and that a similar bill was vetoed previously with the governor asking for budgetary treatment. "It is a cruel irony that those who have already endured so much must now shoulder the burden of taxation on those journeys towards rebuilding their lives," Lackey said.
Representatives of the California Forestry Association spoke in support. No witnesses registered opposition at the hearing. The committee referred AB 97 to the suspense file for fiscal review, with the author expressing hope the appropriations process and budget will address affected victims.
