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AB-1353 Donor-advised funds.(2021-2022)

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Date Published: 02/19/2021 09:00 PM
AB1353:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Assembly Bill
No. 1353


Introduced by Assembly Member Wicks

February 19, 2021


An act relating to charitable organizations.


LEGISLATIVE COUNSEL'S DIGEST


AB 1353, as introduced, Wicks. Donor-advised funds.
Existing law, the Supervision of Trustees and Fundraisers for Charitable Purposes Act, governs charitable corporations, unincorporated associations, trustees, commercial fundraisers, fundraising counsel, commercial coventurers, and other legal entities holding or soliciting property for charitable purposes over which the state or the Attorney General has enforcement and supervisory powers. Under the act, any person who violates any of the act’s provisions with intent to deceive or defraud any charity or individual is liable for a specified civil penalty. The act also authorizes the Attorney General to impose other specified civil penalties for related acts and omissions.
This bill would express the intent of the Legislature to enact legislation that would relate to donor-advised funds for the purpose of improving accountability of charitable giving.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 It is the intent of the Legislature to enact legislation that would relate to donor-advised funds for the purpose of improving accountability of charitable giving.