Senate Concurrent Resolution No. 52

Introduced by Senator Wolk

June 19, 2013

Senate Concurrent Resolution No. 52—Relative to California Plan Your Giving Day.

LEGISLATIVE COUNSEL’S DIGEST

SCR 52, as introduced, Wolk. California Plan Your Giving Day.

This measure would recognize and support the importance of gift planning by declaring October 1, 2013, as California Plan Your Giving Day.

Fiscal committee: no.

WHEREAS, Gift planning opens up options for donors,
including identifying assets for donation that may otherwise be
unavailable to charities; and

WHEREAS, Gift planning enables donors who are currently
unable or reluctant to make a gift to establish a plan to make a gift
of their assets at a later date; and

WHEREAS, Gift planning is a source of endowment that
provides for the possibility of long-term funding for charitable
purposes; and

WHEREAS, Gift planning is usually a result of charitable estate
planning that enables donors to combine financial goals with
charitable gift giving; and

WHEREAS, Gift planning through testamentary arrangements
provides for estate tax savings and permits donors to leave a lasting
legacy to charity; and

WHEREAS, Gift planning provides the public with the option
of reallocating assets, that are otherwise subject to taxation, to
social capital, thereby controlling the use and purpose of a person’s
charitable giving; and

WHEREAS, Gift planning proves to be gratifying for donors
who designate their giving to organizations that share values similar
to the donor; and

WHEREAS, Gift planning allows for the creation of charitable
gift annuities, permitted by California law, to provide a charitable
tax deduction and an assured lifetime income; and

WHEREAS, Gift planning helps charities build “rainy day”
funds that are then available to assist in unexpected emergencies,
such as the relief efforts in Haiti; and

WHEREAS, Gift planning has a major impact on the future
viability of charitable organizations that are highly dependent on
the philanthropic spirit of its donors; now, therefore, be it

Resolved by the Senate of the State of California, the Assembly
thereof concurring, That the State of California and the Legislature
recognize and support the importance of gift planning awareness
by declaring October 1, 2013, as California Plan Your Giving Day;
and be it further

Resolved, That the Secretary of the Senate transmit copies of
this resolution to the author for appropriate distribution.