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CA SB1378
Bill
AI Summary
- Allows a tax credit against California personal income tax for donations to qualified charitable organizations, effective for taxable years beginning January 1, 2014
- Credit limits are $250 per year for single filers, heads of household, and married individuals filing separately; $500 per year for married couples and surviving spouses
- Qualified charitable organizations must be 501(c)(3) exempt organizations or community action agencies that spend at least 50% of budget serving CalWORKS recipients, low-income individuals below 150% of poverty guidelines, or chronically ill/disabled children
- Requires Franchise Tax Board to certify qualified organizations and maintain a public list on its website
- Unused credits may be carried forward up to five years, and charitable donations under this credit cannot also claim a charitable deduction
Legislative Description
Personal income tax: credits: charitable contributions.
Last Action
Set, first hearing. Failed passage in committee. (Ayes 1. Noes 4. Page 3458.)
5/14/2014
Committee Referrals
Governance and Finance4/10/2014
Rules2/21/2014
Full Bill Text
No bill text available