Delucchi

Plaintiffs (the individuals, couples, and other entities listed in exhibit A of the complaint as the signatories on 58 state tax returns) brought the present action for a refund of approximately $17,000 each in state income tax that they had paid on the balance of proceeds received in 1995 from their 1986 sale of stock. The trial court ruled in favor of defendant Franchise Tax Board (FTB) on cross-motions for summary judgment on stipulated facts. Having timely appealed from the judgment, plaintiffs contend that the FTB must apply the exclusion from taxable income that existed for their particular capital gain in 1986 to their income in the 1995 tax year, even though in 1989 the Legislature had repealed the statute that authorized the exclusion. We shall affirm.

Facts

The facts, as noted, are undisputed. We therefore do not need to follow the customary three-part paradigm for our de novo review of a ruling on a motion for summary judgment. (Rio Linda Unified School Dist. v. Superior Court (1997) 52 Cal.App.4th 732, 734-735 [ 60 Cal.Rptr.2d 710 ].)

Each of the plaintiffs sold their shares in Norcal Solid Waste Systems, Inc. (Norcal) in 1986 to an ESOP (employee stock…