Assembly OKs Tax Exemption for Coverage of Adult Children
On Thursday, the Assembly unanimously approved a bill (AB 36) that would exempt the amount paid for health coverage for employees' adult children from being taxed. The legislation aligns California's tax code with federal rules. If the Senate approves the bill and Gov. Jerry Brown (D) signs it into law, California would lose $40 million in tax revenue.
- "Bill Exempts Health Coverage From Taxable Income" (Hoang, AP/Ventura County Star, 3/3).