(a) For taxable years beginning on or after January 1, 2020, and before January 1, 2028, gross income does not include amounts of certain emergency financial aid grants received by a student in postsecondary education pursuant to, or described in, any of the following:

1. (1) Section 3504 or 18004 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (Public Law 116-136).
2. (2) Section 314 of Division M or Section 277 of Division N of the Consolidated Appropriations Act, 2021 (Public Law 116-260).
3. (3) Section 2003 of the American Rescue Plan Act of 2021 (Public Law 117-2).

(b)

1. (1) For purposes of complying with Section 41, as it pertains to this section, the Legislature finds and declares as follows:

   1. (A) The specific goal, purpose, and objective of the exclusion is to provide financial relief to recipients of specified pandemic relief funds.
   2. (B) The performance indicators for the Legislature to use in determining if the exclusion has achieved this goal shall be the number of taxpayers excluding specified pandemic relief from income based on this section, and the total dollar value of income so excluded.
2. (2) The Legislative Analyst’s Office shall, no later than November 1, 2028, submit a report to the Legislature, in accordance with Section 9795 of the Government Code, that estimates the number of taxpayers with specified pandemic relief excluded from income, and estimates the total dollar value of the specified pandemic relief received, to the extent data is available.