Official Summary Text
AB 611, as amended, Lee.
Legacy local news organizations: notice of sale.
Voluntary tax contribution funds: spinal cord injury research.
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 California Cancer Research 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 continuously appropriated California Spinal Cord Injury Research Voluntary Tax Contribution Fund, which would be created by this bill. 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 when another voluntary designation is removed from the form or there is space, whichever occurs first. By establishing a new continuously appropriated fund, this bill would make an appropriation. The bill would require that the above provisions remain operative only until January 1 of the 7th calendar year following the first appearance of the California Pediatric Cancer Research Voluntary Tax Contribution Fund on the tax return, except as specified.
Existing law requires an incumbent grocery employer, defined as a person that owns, controls, or operates the grocery establishment at the time of a change in control, as defined, to post a public notice of a change in control at the location of the affected grocery establishment within 5 business days following the execution of the transfer document, as specified. Existing law, among other things, requires a covered establishment, defined to include a grocery establishment or a pharmacy establishment, to provide written notice of a closure to persons or entities, as specified, no later than 45 days before the closure takes effect.
This bill would require a legacy local news organization, at least 120 days before the final execution of any transaction agreement, to provide a notice of intent to sell, as specified. The bill
would require written notice to be provided, among other things, directly to each employee of the legacy local news organization, as specified, and would require the notice to include prescribed information, including the name of the proposed buyer. The bill would specify that its provisions do not apply to a legacy local news organization that would be independently owned after a transaction. The bill would define various terms for these purposes.