Signed by Governor Gavin Newsom

Vote Smart's Synopsis:

Vote to pass a bill that requires presidential and gubernatorial candidates to release their 5 most recent tax returns in order to appear on primary election ballots.

Highlights:

• Requires presidential candidates to file 2 copies of every income tax return the candidate filed with the Internal Revenue Service in the 5 most recent taxable years, to the Secretary of State at least 98 days before the presidential primary (Sec. 1). 

• Defines “income tax return” as any tax or information return, declaration of estimated tax, or claim for refund required by, or provided for or permitted under the provisions of the Internal Revenue Code, and that is filed on behalf of, or with respect to any person, and any amendment or supplement thereto, including supporting schedules, attachments, or lists that are supplemental to, or part of, the return so filed (Sec. 1). 

• Specifies that one copy of each tax return shall be an unredacted version, and the second copy should have the following information redacted and will then be released as public information, including (Sec. 1):

• Social security number;

• Home address;

• Telephone number;

• Email address; and

• Medical information.

• Specifies that the candidate may also redact the following information from the redacted copy of their tax return, including (Sec 1):

• Names of dependent minors;

• Employer identification number; 

• Business address; and

• Preparer tax identification number, address, telephone number and email address of paid tax return preparers. 

• Requires the candidate to sign and submit a written consent form granting the Secretary of State permission to publicly release a version of their tax returns (Sec. 1).

• Requires the Secretary of State to make the redacted version of a candidate’s tax return public via the Secretary of State website, within 5 days of receipt of the candidate’s tax returns (Sec. 1). 

• Requires candidates for Governor to meet the same requirements as presidential candidates (Sec. 2).

• Specifies that protections afforded by this Act are in place for the 2020 primary election, and will take effect immediately (Sec. 3).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that requires presidential and vice presidential candidates to release their 5 most recent tax returns in order to appear on primary election ballots.

Highlights:

• Requires presidential candidates to file 2 copies of every income tax return the candidate filed with the Internal Revenue Service in the 5 most recent taxable years, to the Secretary of State at least 98 days before the presidential primary (Sec. 1).

• Defines “income tax return” as any tax or information return, declaration of estimated tax, or claim for refund required by, or provided for or permitted under, the provisions of the Internal Revenue Code (Sec. 1).

• Specifies that one copy of each tax return shall be an unredacted version, and the second copy should have the following information redacted and will then be released as public information (Sec. 1):

• Social security number;

• Home address;

• Telephone number;

• Email address; and

• Medical information.

• Specifies that the candidate may also redact the following information from the redacted copy of their tax return (Sec 1):

• Names of dependent minors;

• Employer identification number;

• Business address; and

• Preparer tax identification number, address, telephone number and email address of paid tax return preparers.

• Requires the Secretary of State to make the redacted version of a candidate’s tax return public via the Secretary of State website, within 5 days of receipt of the candidate’s tax returns (Sec. 1).

• Specifies that protections afforded by this Act are in place for the 2020 primary election, and will take effect immediately (Sec. 2).

Full Bill Text