Existing law allows an individual taxpayer to contribute amounts in excess of their personal income tax liability for the support of specified funds and accounts, including, among others, to the California Cancer Research Voluntary Tax Contribution Fund.
This bill, for taxable years beginning on or after January 1, 2027, and before January 1, 2034, would allow an individual to designate on their tax return that a specified amount in excess of their tax liability be transferred to the continuously appropriated California Spinal Cord Injury Research Voluntary Tax Contribution Fund, which would be created by this bill. The bill would require the Franchise Tax Board to revise the tax return form to include a space for the designation of contributions to the fund. By establishing a new continuously appropriated fund, this bill would make an appropriation. The bill would repeal its provisions on December 1, 2034, except as specified.