Sacramento – Today, Assemblyman James Gallagher (R-Yuba City) announced legislation that would provide financial relief to fire victims by exempting state taxes from payments made to victims out of PG&E’s “Fire Victims Trust”.
AB 1249 is co-authored by Senator Jim Nielsen (R-Tehama), Senator Bill Dodd (D-Napa), Senator Brian Dahle (R-Bieber), Assemblyman Frank Bigelow (R-Madera), and Assemblywoman Megan Dahle (R-Bieber).
PG&E’s “Fire Victims Trust” was created to compensate victims of the 2015 (Butte), 2017 (North Bay) and 2018 (Camp) wildfires. AB 1249 would clarify California’s tax code to allow all types of filers to be excluded from paying state taxes on advance settlements paid out of the trust. The legislation was modeled after AB 50 (Hill) from 2011 that exempted state tax from settlements paid out from PG&E to victims of the San Bruno Explosion.
Assemblyman Gallagher stated, “AB 1249 is a straightforward fix that would clarify state tax exemption criteria for victims of three of the most destructive fire in California’s history. Victims deserve to receive the maximum amount of compensation from PG&E for the tremendous pain and suffering the company has caused.”