Today's Law As Amended


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AB-1286 Personal income tax: voluntary contributions: California Breast Cancer Research Fund.(2013-2014)



As Amends the Law Today
As Amends the Law on Nov 25, 2013


SECTION 1.

 Section 18796 of the Revenue and Taxation Code is amended to read:

18796.
 (a) Except as provided in subdivision (b), this  This  article shall remain in effect only until January 1, 2025, and is repealed on December 1, 2025. 2018, and as of that date is repealed. 
(b) (1) By September 1, 2006, and by September 1 of each subsequent calendar year that the California Breast Cancer Research Fund appears on a tax return, the Franchise Tax Board shall do all of the following:
(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 University of California of the amount determined in subparagraph (A).
(b) (C)  (1) Determine  By September 1, 2018, and by September 1 of each subsequent calendar year that the California Breast Cancer Research Voluntary Tax Contribution Fund 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 the minimum contribution amount determined by the Franchise Tax Board  for the calendar year pursuant to paragraph (3). subparagraph (A).  The Franchise Tax Board shall estimate the amount of the 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) If the Franchise Tax Board determines that 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year will not at least equal the minimum contribution amount for the calendar year, this article is inoperative repealed  with respect to taxable years beginning on or after January 1 of that calendar year and is repealed on December 1 of that calendar  year.
(3) For purposes of this section, the minimum contribution amount for a calendar year means two hundred fifty thousand dollars ($250,000). ($250,000) for the 1997 calendar year or the minimum contribution amount adjusted pursuant to subdivision (c). 
(c) Except as provided in subdivision (d), each calendar year, beginning with calendar year 1998, 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 that are received on or before August 1 of the calendar year pursuant to paragraph (1) of subdivision (h) of Section 17041.
(d) For calendar years 2014 and 2015 the minimum contribution shall be equal to the minimum contribution amount for the 2013 calendar year. This amount shall be adjusted pursuant to subdivision (c) beginning with the 2016 calendar year.
(c) (e)  Notwithstanding the repeal of this article, any contribution amounts designated pursuant to this article before  prior to  its repeal shall continue to be transferred and disbursed in accordance with this article as in effect immediately before  prior to  that repeal.