Keep Jobs in California Act of 2026
To prohibit a State from imposing a retroactive tax on assets of nonresident individuals.
HB7619, also known as the Keep Jobs in California Act of 2026, aims to prevent states from imposing retroactive taxes on the assets of individuals who do not reside in California. If passed, this bill would protect nonresident individuals from being taxed on their assets retroactively, which could otherwise lead to financial burdens or penalties.
This legislation would primarily impact nonresidents who own assets in California and could be subject to retroactive taxation by their home states. By shielding them from such taxes, the bill seeks to maintain a favorable business environment and potentially encourage more people to invest or work in California.
As of February 20, 2026, HB7619 was introduced and referred to the House Committee on the Judiciary. The bill is in its initial stages and has yet to undergo further legislative action. Its future will depend on the committee's review and the decisions made by the House members.
