(

a) For taxable years beginning on or after January 1, 2020, and before January 1, 2028, gross income does not include any qualified amount received by a qualified taxpayer. (

b) For purposes of this section: (1) “Qualified amount” means any amount received in settlement by a qualified taxpayer from a settlement entity in connection with the Zogg Fire. (2) “Qualified taxpayer” means any of the following: (

A) Any taxpayer that owned real property located in the County of Shasta or the County of Tehama during the Zogg Fire who paid or incurred expenses and received amounts from a settlement arising out of or pursuant to the Zogg Fire. (

B) Any taxpayer that resided within the County of Shasta or the County of Tehama during the Zogg Fire who paid or incurred expenses and received amounts from a settlement arising out of or pursuant to the Zogg Fire. (

C) Any taxpayer that had a place of business within the County of Shasta or the County of Tehama during the Zogg Fire who paid or incurred expenses and received amounts from a settlement arising out of or pursuant to the Zogg Fire. (3) “Settlement entity” means Pacific Gas and Electric Company or its subsidiary that is making the settlement payment to a qualified taxpayer. (

c) The settlement entity shall provide, upon request by the Franchise Tax Board, documentation of the settlement payments in the form and manner requested by the Franchise Tax Board. (d)

(1) For the purpose of complying with

Section in regards to the exclusion provided by this

section and

Section 24309.7, the Legislature finds and declares that the specific goal, purpose, and objective of the tax exclusion is to provide essential relief to individuals who have suffered injury, loss, inconvenience, and expenses resulting from the devastating Zogg Fire. (2) (

A) On December 1, 2028, the Legislative Analyst’s Office shall deliver to the Legislature a written report that includes both of the following: (

i) To the extent feasible, the estimated number of qualified taxpayers that excluded qualified amounts from gross income, as those terms are used in this

section and

Section 24309.7, as a result of the exclusion. (ii) The estimated aggregate amount of those settlement payments arising out of the Zogg Fire. (

B) The report required by this paragraph shall be delivered to the Legislature in compliance with

Section of the Government Code. (

e) This

section shall remain in effect only until December 1, 2028, and as of that date is repealed.