H.R. 7619 — Introduced in House

I 119th CONGRESS 2d Session H. R. 7619 IN THE HOUSE OF REPRESENTATIVES February 20, 2026Mr. Kiley of California introduced the following bill; which was referred to the Committee on the Judiciary A BILL To 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.