SB 1

  • California Senate Bill
  • 2023-2024 Regular Session
  • Introduced in Senate Dec 05, 2022
  • Senate
  • Assembly
  • Governor

Personal Income Tax Law: exclusions: student loan forgiveness.


The Personal Income Tax Law, in modified conformity with federal law, generally defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income for purposes of computing tax liability. This bill would, for taxable years beginning on or after January 1, 2022, and before January 1, 2026, exclude from gross income any student loan amount waived, canceled, or otherwise forgiven by the United States Department of Education pursuant to a specified federal student debt relief plan. Existing law requires a bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.

Bill Sponsors (14)


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Jan 18, 2023


Referred to Com. on GOV. & F.

  • Referral-Committee
Com. on GOV. & F.

Dec 06, 2022


From printer. May be acted upon on or after January 5.

Dec 05, 2022


Introduced. Read first time. To Com. on RLS. for assignment. To print.

Bill Text

Bill Text Versions Format
12/05/22 - Introduced PDF

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