February 11, 2026 Joint Hearing Assembly Revenue and Taxation Committee and Senate Revenue and Taxation Committee

Joint Informational Hearing of State Legislature (Senate/Assembly Revenue & Tax Committees) · February 11, 2026

0:00/2:40

2:40:14

0:00

30:00

1:00:00

1:30:00

2:00:00

2:40:00

Opening remarks and purpose

Presentation

0:17 → 2:53(2m 36s)

Chair (speaker identified in transcript as the chair) welcomed Assemblymember Mike Gibson and framed the hearing as a 40-year reassessment of California's "water's edge" election and how the state taxes income from foreign subsidiaries of U.S. corporations; emphasized budget pressures and policy questions about fairness and sufficiency.

Keywords:

Speakers:

A joint informational hearing on California's treatment of foreign subsidiaries and the "water's edge" election, featuring testimony from the Legislative Analyst's Office, Franchise Tax Board, tax academics, business groups, labor and public commenters about revenue, administrability, and fairness.

AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Transcript

Unlock the transcript with a paid subscription