CA AB2217

Establishes the Bridget "Biddy" Mason Golden State Credit Program allowing taxpayers to receive an 80% income tax credit on contributions to qualified entities including 501(c)(3) nonprofits, Cal Grant participating colleges, public schools, and community colleges.

Creates a procedure for qualified entities to transfer Golden State Credits (GSCs) to the State Treasurer at a 1:0.90 ratio ($0.90 payment receives one GSC), with a $50 million annual cap on GSCs transferred, effective January 1, 2021 through December 31, 2025.

Allows qualified entities to transfer one GSC to donating taxpayers for each $1 contributed, enabling taxpayers to claim an 80% tax credit on those contributions against personal or corporate income tax liability.

Requires moneys received by the Treasurer (after cost reimbursement) to be deposited into the General Fund, and allows qualified entities to claim refunds for unused GSCs by February 1 following the calendar year received.

Program becomes inoperative if the Treasurer determines donations do not qualify for federal income tax deductions, and automatically repeals on December 1, 2026.