(a) For taxable years beginning on or after January 1, 2020, and before January 1, 2025, gross income does not include grant allocations received by a taxpayer pursuant to the California Microbusiness COVID-19 Relief Program that is administered by the Office of Small Business Advocate pursuant to Article 9 (commencing with Section 12100.90) of Chapter 1.6 of Part 2 of Division 3 of Title 2 of the Government Code.

(b) Section 41 shall not apply to the exclusion allowed by this section.

(Amended by Stats. 2023, Ch. 196, Sec. 22. (SB 143) Effective September 13, 2023.)