CA AB1008

Establishes the California National Guard Education Assistance Fund and allows individual taxpayers to voluntarily contribute amounts exceeding their tax liability to support the fund on their tax returns.

Requires the Franchise Tax Board to revise tax return forms to include a designated space for contributions of one dollar or more to the fund, with instructions explaining the contribution will supplement the California National Guard Education Assistance Award Program.

Permits a voluntary contribution designation for this fund only after another voluntary contribution designation is removed from the tax return.

Mandates that all contributed funds, upon legislative appropriation, be allocated to reimburse the Franchise Tax Board and Controller for administration costs, with remaining funds transferred to the Student Aid Commission for the education assistance award program.

Repeals this article on January 1, 2020, or earlier if the Franchise Tax Board estimates by September 1 that contributions in a calendar year will fall below $250,000 (adjusted for subsequent years).