Senate Bill 78 (Thompson), as enacted on July 21, 1997, made the following changes to California law:
SUBJECT: Fish and Game Preservation Fund/Reinstates and Extends Repeal Date
Section 18741 is added to the Revenue and Taxation Code.
Under the Administration of Franchise and Income Tax Law, this act would reinstate and extend the operation of the Endangered and Rare Fish, Wildlife, and Plant Species Conservation and Enhancement Account (Fish and Game Preservation Fund) allowing taxpayers to make a voluntary contribution on their personal income tax returns to the Fish and Game Preservation Fund.
This section specifies how the contributions are to be designated when:
- a taxpayer’s payments and credits do not exceed their tax liability
- no designation has been made
- more than one contribution is listed, but the amount for designation is insufficient to satisfy the total amount designated
This section requires space on the tax return for the Fish and Game Preservation Fund and allows a deduction for any contribution in full dollar amounts made to the fund.
Section 18742 is added to the Revenue and Taxation Code.
This section (1) requires the FTB to notify the Controller of the amounts collected that are designated for transfer from the Personal Income Tax Fund to the Fish and Game Preservation Fund and, (2) upon appropriation by the Legislature, requires the fund to reimburse the FTB and the Controller for administrative costs associated with this program.
Section 18743 is added to the Revenue and Taxation Code.
This section contains legislative intent regarding the creation of an additional funding source.
Section 18744 is added to the Revenue and Taxation Code.
This act is repealed on January 1, 2002. However, if the FTB estimates by September 1 of any year that the contributions for that year will be less than $250,000 (as adjusted for inflation), the statute will be repealed and the Fund will be deleted from the tax return filed in the following year.
Any contribution previously designated would be transferred and disbursed if the Fund is repealed.
This act is effective January 1, 1998, and applies to tax returns filed for the 1997 through the 2001 tax years.
This act does not require any reports by the department to the Legislature.