SB 1073: Black Cultural District Voluntary Tax Contribution Fund.

Existing law allows an individual taxpayer to contribute amounts in excess of their personal income tax liability for the support of specified funds and accounts, including, among others, to the Native California Wildlife Rehabilitation Voluntary Tax Contribution Fund.

This bill would allow an individual to designate on their tax return that a specified amount in excess of their tax liability be transferred to the Black Cultural District Voluntary Tax Contribution Fund, which would be created by this bill, the funds of which would be available upon appropriation. The bill would require the Franchise Tax Board to revise the tax return form to include a space for the designation of contributions to the fund. The bill would make these provisions operative only until January 1, 2031, as specified.