Income taxes: voluntary contributions: Black Cultural District Voluntary Tax Contribution Fund.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Enrolled
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill creates a voluntary tax contribution program allowing California taxpayers to donate amounts exceeding their regular income tax liability to the Black Cultural District Voluntary Tax Contribution Fund. Taxpayers can designate this contribution on their tax return, and the funds will be used to support the construction and maintenance of the Black Cultural District in Los Angeles, specifically benefiting the Arts Council. The fund is continuously appropriated, with a provision for automatic repeal if contributions fall below a minimum level.
Key provisions
- Allows taxpayers to designate a voluntary contribution on their tax return.
- Creates the Black Cultural District Voluntary Tax Contribution Fund.
- Funds will be allocated to the Arts Council for the construction and maintenance of the Black Cultural District.
- The Franchise Tax Board will revise the tax return form to include a designation space.
- Taxpayers making contributions will be allowed a deduction.
- The fund is continuously appropriated.
- The fund will be repealed if contributions are insufficient.
- A minimum contribution amount of $250,000 is established.
Who is affected
- Taxpayers in California
- The Arts Council
- The City of Los Angeles
- Individuals interested in supporting Black cultural initiatives
Notable changes
Bill text
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Sponsors
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4 on record
Primary sponsor
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