The California Governor signed a law related to electrical corporations and wildfire mitigation. The law includes allowing a 20 percent income tax credit for qualified expenditures paid or incurred by an eligible transmission project developer, capped at $20 million per developer per taxable year, for taxable years beginning on or after Jan. 1, 2026, and before Jan. 1, 2036. [S.B. 254, enacted 09/19/25]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
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