California Legislature Approves Tax Relief for Disaster Victims

The California legislature passed several bills that offer some form of tax relief to those impacted by natural disasters in the state following the Los Angeles-area wildfires earlier this year.

The bills largely extend deadlines for certain kinds of financial actions following a fire or disaster, such as getting a property assessment. All now head to the desk of Gov. Gavin Newsom (D). He has until Oct. 12 to sign or veto the legislation.

The bills are:

• S.B. 159, which would exempt settlements from wildfires from income tax. The bill was part of a last-minute budget trailer bill and ...