AB 1286, as introduced, Skinner. Personal income tax: contributions: California Breast Cancer Research Fund.
The Personal Income Tax Law allows taxpayers, until January 1, 2018, to designate on their tax returns that a specified amount in excess of their tax liability be contributed to the California Breast Cancer Research Fund. The minimum contribution amount is adjusted each year to correct for inflation.
This bill would specify that for calendar years 2014 to 2017, inclusive, the minimum contribution shall be equal to the minimum contribution amount for the 2013 calendar year.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 18796 of the Revenue and Taxation Code
2 is amended to read:
(a) This article shall remain in effect only until January
41, 2018, and as of that date is repealed.
5(b) (1) By September 1, 2006, and by September 1 of each
6subsequent calendar year that the California Breast Cancer
P2 1Research Fund appears on a tax return, the Franchise Tax Board
2shall do all of the following:
3(A) Determine the minimum contribution amount required to
4be received during the next calendar year for the fund to appear
5on the tax return for the taxable year that includes that next calendar
6year.
7(B) Provide written notification to the University of California
8of the amount determined in subparagraph
(A).
9(C) Determine whether the amount of contributions estimated
10to be received during the calendar year will equal or exceed the
11minimum contribution amount determined by the Franchise Tax
12Board for the calendar year pursuant to subparagraph (A). The
13Franchise Tax Board shall estimate the amount of the contributions
14to be received by using the actual amounts received and an estimate
15of the contributions that will be received by the end of that calendar
16year.
17(2) If the Franchise Tax Board determines that the amount of
18contributions estimated to be received during a calendar year will
19not at least equal the minimum contribution amount for the calendar
20year, this article is repealed with respect to taxable years beginning
21on or after January 1 of that calendar year.
22(3) For purposes of this section, the minimum
contribution
23amount for a calendar year means two hundred fifty thousand
24dollars ($250,000) for the 1997 calendar year or the minimum
25contribution amount adjusted pursuant to subdivision (c).
26(c) begin deleteFor end deletebegin insertExcept as provided in subdivision (d), end inserteach calendar
27year, beginning with calendar year 1998, the Franchise Tax Board
28shall adjust, on or before September 1 of that calendar year, the
29minimum contribution amount specified in subdivision (b) as
30follows:
31(1) The minimum contribution amount for the calendar year
32shall be an amount equal to the product of the minimum
33contribution amount for the prior calendar year multiplied by the
34inflation factor adjustment as specified in paragraph (2) of
35
subdivision (h) of Section 17041, rounded off to the nearest dollar.
36(2) The inflation factor adjustment used for the calendar year
37shall be based on the figures for the percentage change in the
38California Consumer Price Index that are received on or before
39August 1 of the calendar year pursuant to paragraph (1) of
40subdivision (h) of Section 17041.
P3 1(d) For calendar years 2014 to 2017, inclusive, the minimum
2contribution shall be equal to the minimum contribution amount
3for the 2013 calendar year as adjusted pursuant to subdivision
4(c).
5 (d)
end delete
6begin insert(e)end insert Notwithstanding the repeal of this article, any contribution
7amounts designated pursuant to this article prior to its repeal shall
8continue to be transferred and disbursed in accordance with this
9article as in effect immediately prior to that repeal.
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