Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 24308.2 — Exclusions
Cal. Rev. & Tax. Code § 24308.2
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Date
- 2022-02-09
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) For taxable years beginning on or after January 1, 2020, gross income does not include any amount awarded as a restaurant revitalization grant pursuant to Section 9009c of Title 15 of the United States Code.
Citator
Cal. Rev. & Tax. Code § 24308.2 — Exclusions is in force in the current edition of the Code, and nothing recorded condemns it.
(a) For taxable years beginning on or after January 1, 2020, gross income does not include any amount awarded as a restaurant revitalization grant pursuant to Section 9009c of Title 15 of the United States Code.
(b) (1) Notwithstanding Section 24425, for taxable years beginning on or after January 1, 2020, paragraph (2) of Section 9673 of the American Rescue Plan Act of 2021 (Public Law 117-2) shall apply, except as provided.
(2) Paragraph (2) of Section 9673 of the American Rescue Plan Act of 2021 (Public Law 117-2) is modified by substituting the phrase “provided by paragraph (1)” with “provided by this section.”
(c) The Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code) shall not apply to any standard, criterion, procedure, determination, rule, notice, guideline, or any other guidance established or issued by the Franchise Tax Board pursuant to this section.
(d) This section shall be operative for taxable years beginning on or after January 1, 2020.