Bill Text: CA AB2012 | 2013-2014 | Regular Session | Introduced

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Bill Title: Voluntary contributions: California Fund for Senior

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-03-03 - Referred to Com. on REV. & TAX. [AB2012 Detail]

Download: California-2013-AB2012-Introduced.html

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BILL NUMBER: AB 2012	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Morrell

                        FEBRUARY 20, 2014

   An act to amend Section 18724 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2012, as introduced, Morrell. Voluntary contributions:
California Fund for Senior Citizens.
   Under the Personal Income Tax Law, taxpayers are allowed to
contribute amounts in excess of their tax liability for the support
of the California Fund for Senior Citizens until the year in which
the minimum contribution is not received, or January 1, 2020, which
ever occurs first.
   This bill would eliminate the requirement that these contributions
reach the minimum contribution amount.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


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

  SECTION 1.  Section 18724 of the Revenue and Taxation Code is
amended to read:
   18724.  (a) Except as otherwise provided in subdivision (b), this
article shall remain in effect only for taxable years beginning
before January 1, 2020, and as of December 1, 2020, is repealed.

   (b) (1) By September 1, 2006, and by September 1 of each
subsequent calendar year that the California Fund for Senior Citizens
appears on a tax return, the Franchise Tax Board shall determine
whether the amount of contributions estimated to be received during
the calendar year will equal or exceed two hundred fifty thousand
dollars ($250,000). The Franchise Tax Board shall estimate the amount
of contributions to be received by using the actual amounts received
and an estimate of the contributions that will be received by the
end of that calendar year.  
   (2) The Franchise Tax Board shall provide written notification to
the California Senior Legislature of the amount determined pursuant
to paragraph (1).  
   (3) If the Franchise Tax Board determines the amount of
contributions estimated to be received during a calendar year will
not at least equal the minimum contribution amount for the calendar
year, this article shall become inoperative for taxable years
beginning on or after January 1 of that calendar year, and shall be
repealed on December 1 of that calendar year.  
   (4) For purposes of this section, the minimum contribution amount
for a calendar year means two hundred fifty thousand dollars
($250,000).  
   (c) 
    (b)  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.