Section 18796 - [Effective 1/1/2025] [Effective until 1/1/2032] Repealer; duties of Franchise Tax Board(a) Except as provided in subdivision (b), this article shall remain in effect only until January 1, 2032, and is repealed on December 1, 2032.(b)(1) By September 1, 2018, and by September 1 of each subsequent calendar year that the California Breast Cancer Research Voluntary Tax Contribution Fund appears on a tax return, the Franchise Tax Board shall determine whether the amount of contributions estimated to be received during the calendar year will equal or exceed the minimum contribution amount for the calendar year pursuant to paragraph (3). The Franchise Tax Board shall estimate the amount of the contributions to be received by using the actual amounts received and an estimate of the contributions that will be received by the end of that calendar year.(2) If the Franchise Tax Board determines that the amount of contributions estimated to be received during a calendar year will not at least equal the minimum contribution amount for the calendar year, this article is inoperative with respect to taxable years beginning on or after January 1 of that calendar year and is repealed on December 1 of that calendar year.(3) For purposes of this section, the minimum contribution amount for a calendar year means two hundred fifty thousand dollars ($250,000).(c) Notwithstanding the repeal of this article, any contribution amounts designated pursuant to this article before its repeal shall continue to be transferred and disbursed in accordance with this article as in effect immediately before that repeal.Ca. Rev. and Tax. Code § 18796
Amended by Stats 2024 ch 130 (SB 1172),s 1, eff. 1/1/2025.Amended by Stats 2017 ch 427 (SB 440),s 4, eff. 1/1/2018.Amended by Stats 2014 ch 71 (SB 1304),s 162, eff. 1/1/2015.Amended by Stats 2013 ch 664 (AB 1286),s 1, eff. 1/1/2014.Amended by Stats 2012 ch 456 (SB 1359),s 1, eff. 1/1/2013.Amended by Stats 2007 ch 486 (AB 28),s 1, eff. 1/1/2008.Amended by Stats 2006 ch 645 (SB 1249),s 6, eff. 9/29/2006.Amended by Stats 2002 ch 484 (SB 1365),s 2, eff. 1/1/2003.This section is set out more than once due to postponed, multiple, or conflicting amendments.