AB 2222: Personal Income Tax Law and Corporation Tax Law: credits: local news outlets: business expense deduction: excessive employee remuneration.

The bill would allow a tax credit of $20,000 for the first five qualifying journalists employed by a taxpayer, and $15,000 for each journalist beyond the first five. It would also provide an additional credit of $15,000 for each qualifying journalist in a new journalism position. The credit would be available for taxable years beginning on or after January 1, 2027, and before January 1, 2032. The amount of the credit exceeding the taxpayer's liability would be credited against other amounts due, if any, and paid from the tax relief and refund account. The bill would make an appropriation by increasing payments from this account, a continuously appropriated fund.