Section 20585 - Household income(a) Postponement shall not be allowed under this chapter, Chapter 3 (commencing with Section 20625), Chapter 3.3 (commencing with Section 20639), or Chapter 3.5 (commencing with Section 20640) if household income exceeds the following: (1) Beginning July 1, 2016, to June 30, 2020, inclusive, thirty-five thousand five hundred dollars ($35,500).(2) Beginning July 1, 2020, forty-five thousand dollars ($45,000).(b)(1) Beginning January 1, 2021, and for each assessment year thereafter, the household income limit shall be compounded annually by an inflation factor that is the percentages of increase in the California Consumer Price Index for all Urban Consumers and in the California Consumer Price Index for Urban Wage Earners and Clerical Workers of December of the prior calendar year over December of the preceding calendar year, as determined by the Department of Industrial Relations.(2) The Controller shall compute an inflation adjustment factor by adding 100 percent to the larger of the California Consumer Price Index percentage increases furnished pursuant to paragraph (1).Ca. Rev. and Tax. Code § 20585
Amended by Stats 2019 ch 794 (AB 133),s 2, eff. 1/1/2020.Amended by Stats 2018 ch 896 (SB 1130),s 13, eff. 1/1/2019.Amended by Stats 2017 ch 387 (SB 205),s 23, eff. 1/1/2018.Amended by Stats 2014 ch 703 (AB 2231),s 30, eff. 9/28/2014.Amended by Stats 2006 ch 616 (AB 2719),s 1, eff. 1/1/2007.