Bill Text: CA AB1796 | 2013-2014 | Regular Session | Chaptered

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Bill Title: Franchise Tax Board: refunds: direct deposit: taxpayer form instructions.

Spectrum: Bipartisan Bill

Status: (Passed) 2014-07-16 - Chaptered by Secretary of State - Chapter 135, Statutes of 2014. [AB1796 Detail]

Download: California-2013-AB1796-Chaptered.html

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BILL NUMBER: AB 1796	CHAPTERED
	BILL TEXT

	CHAPTER  135
	FILED WITH SECRETARY OF STATE  JULY 16, 2014
	APPROVED BY GOVERNOR  JULY 16, 2014
	PASSED THE SENATE  JULY 3, 2014
	PASSED THE ASSEMBLY  MAY 15, 2014
	AMENDED IN ASSEMBLY  APRIL 10, 2014

INTRODUCED BY   Assembly Member Linder
   (Coauthor: Assembly Member Perea)

                        FEBRUARY 18, 2014

   An act to add Section 19304 to the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1796, Linder. Franchise Tax Board: refunds: direct deposit:
taxpayer form instructions.
   Existing law requires the Franchise Tax Board to make a refund to
a taxpayer of any overpayment of taxes. Existing law requires the
Franchise Tax Board to revise returns to allow a taxpayer to
designate more than one account for direct deposit of a refund.
   The Golden State Scholarshare College Savings Trust, California's
529 College Savings Plan, is administered by the Scholarshare
Investment Board. Existing law authorizes the trust to enter into
agreements with participants on behalf of beneficiaries subject to
specified terms for higher education expenses.
   This bill would require the Franchise Tax Board to revise taxpayer
form instructions for tax returns to include information about the
ability of a taxpayer to directly deposit a portion of a refund into
the Golden State Scholarshare College Savings Trust, as defined. This
bill would require the Scholarshare Investment Board to provide the
Franchise Tax Board with a description of that trust program before a
date specified by the Franchise Tax Board, and that the revisions be
completed in the most cost-effective manner.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 19304 is added to the Revenue and Taxation
Code, to read:
   19304.  (a) The Franchise Tax Board shall revise taxpayer form
instructions, for returns required to be filed, pursuant to Article 1
(commencing with Section 18501) of Chapter 2, to include information
about the ability of a taxpayer to directly deposit a portion of the
refund into the Golden State Scholarshare College Savings Trust.
   (b) The Scholarshare Investment Board shall provide the Franchise
Tax Board with a description of the Golden State Scholarshare College
Savings Trust on or before a specified date provided by the
Franchise Tax Board. The length of the description shall be five
lines or less.
   (c) The Franchise Tax Board shall revise the taxpayer form
instructions in the most cost-effective manner.
   (d) For purposes of this section, "Golden State Scholarshare
College Savings Trust" has the meaning set forth in subdivision (e)
of Section 69980 of the Education Code.