Keep Jobs in California Act of 2026

Key Points

• Rep. Kiley introduced a bill that would stop states from passing new laws to tax the wealth of people who have already moved away. It specifically bans "retroactive" taxes, which are taxes on property or money someone owned in the past, before the tax law even existed.
• This would protect people who move to a new state from being surprised by a tax bill from their old state. For example, if a state passes a new wealth tax in 2027, they would not be allowed to use it to collect money from someone who moved out of the state in 2025.
• The bill is intended to stop people and businesses from leaving states like California out of fear that they will be taxed on their savings even after they move. Supporters believe this will make the tax system more fair and predictable for everyone.

Impact Analysis

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