Personal income taxes: contributions: California Military Family Relief Fund.

The Personal Income Tax Law allows taxpayers, until January 1, 2015, to designate on their tax returns that a specified amount in excess of their tax liability be contributed to the California Military Family Relief Fund to provide financial aid grants to eligible reserve members of the Armed Forces of the United States who are California residents and requires all moneys transferred to the fund, upon appropriation by the Legislature, to be allocated as specified. Existing law provides that these provisions shall remain in effect until a specified date or until the Franchise Tax Board estimates that the contributions made on returns filed in that calendar year will be less than $250,000 or an adjusted amount. This bill would require moneys transferred to the fund, upon appropriation by the Legislature and after allocations to the Franchise Tax Board and the Controller, to be allocated to the state Military Department for the establishment of financial aid grants provided to California National Guard members and reserve members of the Armed Forces of the United States, as specified. This bill would revise the requirements in determining the minimum contribution amount, for calendar year 2009, to allow for a minimum contribution amount of $250,000, without adjustment, and would resume the adjustment of the minimum contribution amount beginning in the 2010 calendar year. This bill would additionally make findings with regard to the public purpose served by the bill. This bill would declare that it is to take effect immediately as an urgency statute.