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 Bill Text - AB-1714 Personal income tax: credit: first-time homebuyer program: required repairs.

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 |Add To My Favorites |Track Bill | Version: 03/23/26 - Amended Assembly
 02/04/26 - Introduced

 AB-1714 Personal income tax: credit: first-time homebuyer program: required repairs.(2025-2026)

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 Date Published: 03/23/2026 09:00 PM

AB1714:v98#DOCUMENTBill Start

 Amended
 IN 
 Assembly
 March 23, 2026

 CALIFORNIA LEGISLATURE—
 2025–2026 REGULAR SESSION

 Assembly Bill

No. 1714

Introduced by Assembly Member Tangipa

February 04, 2026

 An act to add and repeal Section 17053.45 of the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy. 

LEGISLATIVE COUNSEL'S DIGEST

AB 1714, as amended, Tangipa.
 Personal income tax: credit: first-time homebuyer program: required repairs.

The Personal Income Tax Law allows various credits against the taxes imposed by those laws.

This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2028, and before January 1, 2033, in an amount equal to 40% of the amount paid or incurred, not to exceed $25,000, during the taxable year for repairs that are required as a condition of closing the sale of real property to a purchaser utilizing a first-time homebuyer assistance program, as specified. The bill would prohibit a taxpayer from claiming more than one credit for a taxable year or more than one taxpayer from claiming the
 credit with respect to a property for a taxable year.

Existing law requires any bill authorizing a new tax expenditure, as defined, to include tax credits, to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements.

This bill would include findings and reporting requirements in compliance with this requirement.

This bill would take effect immediately as a tax levy.

Digest Key

 Vote:
 MAJORITY 
 Appropriation:
 NO 
 Fiscal Committee:
 YES 
 Local Program:
 NO 

Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 17053.45 is added to the Revenue and Taxation Code, to read:

17053.45.

 (a) For each taxable year taxable years beginning on or after January 1, 2028, and before January 1, 2033, there shall be allowed as a credit against the “net tax,” as defined in Section 17039, an amount equal to 100 40 percent of the amount paid or incurred during the taxable year for qualified repair expenses by a taxpayer. The credit shall not
 taxpayer, not to exceed twenty-five thousand dollars ($25,000) per taxable year.

(b) For purposes of this section:

(1) “Cosmetic improvements” means modifications to residential real property that are intended solely to improve the visual appearance or aesthetic appeal of the property and that do not affect the structural integrity, safety, habitability, or essential systems of the property.

(1)

(2) “First-time homebuyer assistance program” means any program under Chapter 11 (commencing with Section 51500) or Chapter 12 (commencing with Section 51520) of Part 3 of Division 31 of the Health and Safety Code. 

(2)

(3) (A) “Qualified repair expenses” means amounts paid or incurred during the taxable year by the seller for repairs that are required as a condition of closing the sale of real property to a purchaser utilizing a first-time homebuyer assistance program
 administered by the California Housing Finance Agency, including repairs identified by any of the following:

(i) A lender appraisal.

(ii) A property inspection report required by the lender.

(iii) Any health and safety requirement imposed as a condition of financing under a first-time homebuyer assistance program administered by the California Housing Finance Agency.

(B) “Qualified repair expenses” does not include cosmetic improvements, renovations, or upgrades not required as a condition of financing, including, but not limited to, remodeling, landscaping, or aesthetic enhancements.

(c) To be
 eligible for the credit allowed by this section, a taxpayer shall substantiate, in the
 form and manner prescribed by the Franchise Tax Board, all of the following:

(1) The repairs qualified repair expenses were required as a condition of closing the sale.

(2) The repairs qualified repair expenses were completed prior to or as part of the sale transaction.

(3) The purc