California Set to Pay Residents to NOT Own a Car

California doesn’t want you owning a gas-powered car by 2035.

California Plans To BAN Gasoline Cars By 2035

In fact, California would rather you not own a car.

The California State Assembly passed a bill last week that gives a tax credit to citizens who don't own a vehicle.

California residents who don’t own a registered vehicle could receive a $1,000 tax credit each year for five years starting in 2023.

SB 457 now awaits Gov. Gavin Newsom's signature.

Via Openstates:

The Personal Income Tax Law allows various credits against the taxes imposed by the law. Existing law establishes the continuously appropriated Tax Relief and Refund Account and provides that payments required to be made to taxpayers or other persons from the Personal Income Tax Fund are to be paid from that account, including any amount to be paid as a refundable tax credit in excess of any tax liabilities.

This bill, for taxable years beginning on or after January 1, 2023, and before January 1, 2028, would allow a credit against those taxes to a qualified taxpayer in an amount equal to $1,000 for each household with zero registered vehicles, as defined. The bill would require the qualified taxpayer to self-certify the number of registered vehicles owned by the qualified taxpayer and their dependents and by each entity in which the qualified taxpayer or their dependent holds a controlling interest, and that the qualified taxpayer and their dependent do not own or operate a vehicle within the state that is required to be registered with the Department of Motor Vehicles but is not. The bill would require the Department of Motor Vehicles to provide necessary taxpayer and vehicle information to the Franchise Tax Board for administration of the credit. For a qualified taxpayer that was allowed the California Earned Income Tax Credit, the bill would require amounts of this credit in excess of the tax liability be paid to the qualified taxpayer from the Tax Relief and Refund Account. By authorizing new refund payments to be paid from the continuously appropriated Tax Relief and Refund Account, the bill would make an appropriation.

California is encouraging citizens dont own cars. SB 457 - California Senate (20212022) - Open States https://t.co/nszLd13GF6

— Rosa Galvez (@SenRosaGalvez) August 15, 2022

Remember: You will own nothing and be happy!

Yeah, sure!

Smart Cities Dive adds:

The momentum for such a tax credit comes on the heels of regulations the California Air Resources Board adopted Aug. 26 to ban gas-powered vehicle sales in the state by the 2035 model year. The regulations also require automakers to achieve a 35% share of zero-emission vehicle sales as early as the 2026 model year.

The credit is subject to income limitations of $40,000 for single filers and $60,000 for joint filers. Should a resident also retire, rather than sell or trade in, a currently registered vehicle, that resident may be eligible for up to an additional $1,500 under the state’s Consumer Assistance Program. The vehicle must be turned in to an authorized auto dismantler.

“As the impacts of climate change are felt across our state, it’s time we more aggressively commit to implementing modes of sustainable transportation,” said state Sen. Anthony Portantino, the bill’s author, in a press release.