Plain English Breakdown
The exact uses of the funds are not specified in the official source material.
California Pediatric Cancer Research Donation Fund
This law creates a new fund where people can donate extra money from their taxes to support pediatric cancer research.
What This Bill Does
- Creates the California Pediatric Cancer Research Voluntary Tax Contribution Fund.
- Allows taxpayers to designate on their tax forms how much extra money they want to give to this fund, beyond what they owe in taxes.
- Requires the Franchise Tax Board to add a space for donations to this new fund on tax forms when there is room or another donation option is removed.
- Limits the time that people can donate to this fund to seven years after it first appears on tax forms.
Who It Names or Affects
- Taxpayers in California who want to support pediatric cancer research through their taxes.
Terms To Know
- Franchise Tax Board
- The agency that collects state income taxes in California.
- Voluntary Tax Contribution Fund
- A special fund where people can choose to donate extra money from their taxes for specific causes.
Limits and Unknowns
- It is not clear how much money will be raised or what the exact uses of the funds will be.
- The law only allows donations for a limited time, ending seven years after it first appears on tax forms.