Franchise Tax Board: reporting requirements

The change gives the Legislature the same required data on household penalties, exemptions, and state health-coverage subsidies one month later each year.

What the law does ​

• Requires the Franchise Tax Board to submit its annual report by April 1, after the initial March 1, 2022 report.
• Continues required reporting on penalties by county, income class, and federal poverty level.
• Continues required reporting on exemptions and state financial subsidies, including reconciliation adjustments.

Who it affects ​

• The Franchise Tax Board.
• The Legislature.
• Households subject to the health coverage penalty or receiving related state financial subsidies.