CA SB581

Creates the California Excellence Fund in the General Fund to accept monetary donations to California for exclusively public purposes as defined under Internal Revenue Code Section 170.

Allows donors to designate their contributions for one of five purposes: public schools (K-12), University of California, California State University, California Community Colleges, or state parks.

Requires amounts in the fund to be first transferred to the General Fund (counted as General Fund revenues under California Constitution Articles XVI sections 8 and 8.5), then appropriated by the Legislature for donor-designated purposes.

Directs the State Treasurer to establish procedures for public contributions and provide the Department of Finance with quarterly reports on aggregate contributions and amounts available for each designated purpose, beginning January 1, 2019.

Takes effect only if Senate Bill 227 of the 2017-18 Regular Session is enacted and takes effect on or before January 1, 2019.