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HR7619119th CongressWALLET

Keep Jobs in California Act of 2026

Sponsored By: Representative Kiley (CA)

Introduced

Summary

Prevents states from imposing retroactive asset-value taxes on nonresident individuals. This bill would bar any state from levying a tax on a nonresident's assets when the tax is tied to asset values for periods before the law's enactment and the person did not live in the state on the enactment date. It sets the law's effective date as January 1, 2026.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Protects nonresidents from retroactive asset taxes

If enacted, this bill would stop a State from imposing a tax on nonresident individuals based on asset value. The ban covers taxes tied to asset values for any period before the law is enacted. It only applies if the person did not live in that State on the law's enactment date. It would take effect on January 1, 2026.

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Sponsors & CoSponsors

Sponsor

Kiley (CA)

CA • I

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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