Introduced in House — H.R. 7619

119th CONGRESS

2d Session

H. R. 7619

IN THE HOUSE OF REPRESENTATIVES

February 20, 2026

Mr. 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.

Section 1. Short title

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

Sec. 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.

Sec. 3. Effective date

This Act shall take effect on January 1, 2026.