AB 519: Personal income tax: California Senior Citizen Advocacy Voluntary Tax Contribution Fund.

Existing law authorizes an individual to contribute amounts in excess of his or her personal income tax liability for the support of specified funds. Existing law sets forth general administrative provisions applicable to voluntary contributions, which, among other things, provide for the disbursement of contributions following repeal of the fund provisions and require undesignated funds to be transferred to the General Fund.

This bill would allow a taxpayer to designate an amount in excess of personal income tax liability to be deposited into the California Senior Citizen Advocacy Voluntary Tax Contribution Fund, which the bill would create. The bill would require the Franchise Tax Board to revise the tax return to include a space for this fund. The bill would require moneys transferred to the California Senior Citizen Advocacy Voluntary Tax Contribution Fund to be continuously appropriated and allocated to the Controller and the Franchise Tax Board, and to the California Senior Legislature for the purpose of funding the activities of the California Senior Legislature, as provided. The bill would require the California Senior Legislatures Internet Web site to report specified information, including all events the California Senior Citizen Advocacy Voluntary Tax Contribution Fund supports each year.

This bill would require specified minimum contributions to be made in order for the fund to appear on the return for the following year. The bill would repeal these voluntary contribution provisions on January 1, 2025, or, if contributions made on returns are less than a specified minimum amount, by an earlier date as provided. By continuously appropriating these funds, the bill would make an appropriation.