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AB 97 seeks tax exemption for Bobcat Fire settlements; committee refers bill to suspense
Summary
Assemblymember Bill Lackey presented AB 97 to exempt settlement payments arising from the 2020 Bobcat Fire from state income tax; supporters said the payments are intended to reimburse losses and should not be taxed; committee referred the bill to the suspense file.
Assemblymember Bill Lackey presented AB 97, which would exempt from California income tax settlement payments made to victims of the 2020 Bobcat Fire.
Lackey told the committee the Bobcat Fire destroyed more than 116,000 acres and many homes; he described taxation of settlement payments as a "cruel irony" that would further burden victims. He noted the source of many payments for the Bobcat Fire would be Southern California Edison settlements and said the bill mirrors prior measures that were vetoed with direction to the budget process.
Support during the hearing included the California Forestry Association; no witnesses registered opposition in the hearing record. Committee members had no substantive questions in the hearing record.
Formal action: the committee referred AB 97 to the suspense file for fiscal consideration.
