Tax credits available to property owners participating in a lawn replacement program. HOAs could receive a corporate tax credit for replacing turf with drought tolerant plants.
Current Status: Dead
FindHOALaw Quick Summary:
The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. AB 603 (Salas) would add Revenue and Taxation Code §§ 17053.98 and 23698 to allow a tax credit, for taxable years beginning on and after January 1, 2016, and before January 1, 2021, to a taxpayer participating in a lawn replacement program, as defined, in an amount equal to 25% of the costs paid or incurred by the taxpayer to replace conventional lawn on the taxpayer’s property during the taxable year, not to exceed $1,500. HOAs could receive a corporate tax credit for replacing turf with drought tolerant plants. This bill would take effect immediately as a tax levy.
from the California Legislature's website