BILL ANALYSIS �
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|SENATE RULES COMMITTEE | SCR 94|
|Office of Senate Floor Analyses | |
|1020 N Street, Suite 524 | |
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|327-4478 | |
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THIRD READING
Bill No: SCR 94
Author: Wolk (D)
Amended: As introduced
Vote: 21
SUBJECT : California Plan Your Giving Day
SOURCE : Author
DIGEST : This resolution recognizes and supports the
importance of gift planning by declaring October 1, 2012,
as California Plan Your Giving Day.
ANALYSIS : This resolution makes the following
legislative findings:
1. Gift planning opens up options for donors, including
identifying assets for donation that may otherwise be
unavailable to charities.
2. Gift planning through testamentary arrangements provides
for estate tax savings and permits donors to leave a
lasting legacy to charity.
3. 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.
4. Gift planning allows for the creation of charitable gift
annuities, permitted by California law, to provide a
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charitable tax deduction and an assured lifetime income.
5. Gift planning helps charities build "rainy day" funds
that are then available to assist in unexpected
emergencies, such as the relief efforts in Haiti.
6. Gift planning has a major impact on the future viability
of charitable organizations that are highly dependent on
the philanthropic spirit of its donors.
FISCAL EFFECT : Fiscal Com.: No
RM:mw 6/7/12 Senate Floor Analyses
SUPPORT/OPPOSITION: NONE RECEIVED
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