119 HR 7619 IH: Keep Jobs in California Act of 2026 U.S. House of Representatives 2026-02-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS2d SessionH. R. 7619IN THE HOUSE OF REPRESENTATIVESFebruary 20, 2026Mr. Kiley of California introduced the following bill; which was referred to the Committee on the JudiciaryA BILLTo prohibit a State from imposing a retroactive tax on assets of nonresident individuals.

1.

Short title

This Act may be cited as the Keep Jobs in California Act of 2026.

2.

Prohibition retroactive asset tax on nonresidents

A State shall not impose a tax on nonresident individuals based on the value of the assets of such individuals if such tax is attributable to the value of such assets for any period before the date of the enactment of the Act that imposes such tax and if such individuals do not reside in such State as of the date of the enactment of such Act.

3.

Effective date

This Act shall take effect on January 1, 2026.