Bill Text: CA SB91 | 2009-2010 | Regular Session | Chaptered

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Bill Title: Income taxes: designated contributions: senior citizens.

Spectrum: Bipartisan Bill

Status: (Passed) 2009-08-06 - Chaptered by Secretary of State. Chapter 29, Statutes of 2009. [SB91 Detail]

Download: California-2009-SB91-Chaptered.html

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BILL NUMBER: SB 91	CHAPTERED
	BILL TEXT

	CHAPTER  29
	FILED WITH SECRETARY OF STATE  AUGUST 6, 2009
	APPROVED BY GOVERNOR  AUGUST 5, 2009
	PASSED THE SENATE  JULY 16, 2009
	PASSED THE ASSEMBLY  JULY 13, 2009
	AMENDED IN ASSEMBLY  JULY 8, 2009

INTRODUCED BY   Senators Correa and Alquist
   (Coauthors: Senators Cedillo, DeSaulnier, Maldonado, and Oropeza)
   (Coauthors: Assembly Members Duvall, Harkey, Hernandez, and
Nielsen)

                        JANUARY 20, 2009

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


	LEGISLATIVE COUNSEL'S DIGEST


   SB 91, Correa. Income taxes: designated contributions: senior
citizens.
   Existing law allows taxpayers, until January 1, 2010, to
contribute amounts in excess of their personal income tax liability
for the support of the California Fund for Senior Citizens. Existing
law repeals the contribution provisions for this fund either on the
September 1 following the calendar year for which the Franchise Tax
Board estimates that the minimum contribution amount will be less
than a prescribed amount or on January 1, 2010, whichever occurs
first.
   This bill would, under this latter limit, extend the operation of
those contribution provisions until January 1, 2015.


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) This article shall remain in effect only until January
1, 2015, and as of that date is repealed, unless a later enacted
statute, which is enacted before January 1, 2015, deletes that date.
   (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 is repealed for taxable years beginning on or
after January 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) 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.