Bill Text: CA AB2400 | 2017-2018 | Regular Session | Introduced
Bill Title: Personal income taxes: voluntary contribution fund: Alzheimer’s disease research.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Passed) 2018-09-07 - Chaptered by Secretary of State - Chapter 299, Statutes of 2018. [AB2400 Detail]
Download: California-2017-AB2400-Introduced.html
Assembly Bill | No. 2400 |
Introduced by Assembly Member Kalra (Principal coauthor: Assembly Member Reyes) |
February 14, 2018 |
LEGISLATIVE COUNSEL'S DIGEST
Digest Key
Vote: MAJORITY Appropriation: YES Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
The heading of Article 6 (commencing with Section 18761) of Chapter 3 of Part 10.2 of Division 2 of the Revenue and Taxation Code is amended to read:Article 6. California Alzheimer’s Disease and Related Dementia Research Voluntary Tax Contribution Fund
SEC. 2.
Section 18763 of the Revenue and Taxation Code is amended to read:18763.
(a)SEC. 3.
Section 18764 of the Revenue and Taxation Code is amended to read:18764.
There is in the State Treasury the California Alzheimer’s Disease and RelatedSEC. 4.
Section 18765 of the Revenue and Taxation Code is amended to read:18765.
(a)
(b)
SEC. 5.
Section 18766 of the Revenue and Taxation Code is amended to read:18766.
(a) Except as otherwise provided in(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 Secretary of California Health and Human Services of the amount determined in subparagraph (A).
(c)For each calendar year, beginning with calendar year 2001, 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.