Amended
IN
Senate
August 24, 2017 |
Amended
IN
Assembly
April 04, 2017 |
Amended
IN
Assembly
March 20, 2017 |
Assembly Bill | No. 1031 |
Introduced by Assembly Member Waldron (Coauthors: Assembly Members Chiu, Daly, Cristina Garcia, Baker, and Gloria) (Coauthors: Senators Atkins and Bates) |
February 16, 2017 |
This
(d)If an individual designates a contribution to more than one account, and the amount available is insufficient to satisfy the total amount designated, the contribution shall be allocated among the designees on a pro rata basis.
(e)
(f)
(A)Determine the minimum contribution amount required to be received during the next calendar year for the fund to appear on the tax return for the taxable year that includes that next calendar year.
(B)Provide written notification to the
Department of Fish and Game of the amount determined in subparagraph (A).
(c)For each calendar year, beginning with calendar year 2003, the Franchise Tax Board shall adjust, on or before September 1 of that calendar year, the minimum contribution amount specified in subdivision (b) as follows:
(1)The minimum contribution amount for the calendar year shall be an amount equal to the product of the minimum contribution amount for the prior calendar year multiplied by the inflation factor adjustment as specified in paragraph (2) of subdivision (h) of Section 17041, rounded off to the nearest dollar.
(2)The inflation factor adjustment used for the calendar year
shall be based on the figures for the percentage change in the California Consumer Price Index received on or before August 1 of the calendar year pursuant to paragraph (1) of subdivision (h) of Section 17041.
(d)Notwithstanding the repeal of this article, any contribution amounts designated pursuant to this article prior to its repeal shall continue to be transferred and disbursed in accordance with this article as in effect immediately prior to that repeal.