Section 24990.7 Of Article 4.5. Capital Gains And Losses From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 15. >> Article 4.5.

. The provisions of Section 1248 of the Internal Revenue Code, relating to gain from certain sales or exchanges of stock in certain foreign corporations, shall not apply to transactions occurring after August 20, 1990, in taxable years beginning on or after January 1, 1990.