California Increases Renters Income Tax Credit

The California Governor signed a law concerning housing. The law includes: 1) increasing the renters income tax credit to $250 for spouses filing joint returns, heads of household, and surviving spouses with gross income up to $50,000, and to $500 for qualified renters with dependents; and 2) increasing the renters income tax credit to $250 for other individuals with adjusted gross income up to $25,000, and to $500 for qualified renters with dependents. The law took effect on June 30. [A. 130, enacted 06/30/25]