Section 17155.

Latest version.

(a) Gross income shall not include any amount, including any interest or property, that is received as compensation in any taxable year by a taxpayer pursuant to the German Act Regulating Unresolved Property Claims, as amended (Gesetz zur Regelung offener Vermogensfragen).

(b) The basis of any property received pursuant to the German Act Regulating Unresolved Property Claims shall be the fair market value of the property at the time of receipt by the taxpayer.

(Added by Stats. 1996, Ch. 28, Sec. 2. Effective April 8, 1996. See prevailing Section 17155 (added by Stats. 1996, Ch. 29), as amended by Stats. 1998, Ch. 962.)

                    
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