Personal income taxes: voluntary contributions: California YMCA Youth and Government Fund.

The Personal Income Tax Law authorizes taxpayers to contribute amounts in excess of their tax liability for the support of specified funds. This bill would additionally allow individuals to designate on their tax returns that a specified amount in excess of their tax liability be transferred to the California YMCA Youth and Government Fund, which would be created by this bill. The bill would require the Franchise Tax Board, when another voluntary contribution designation is removed or as soon as space is available, to revise the tax return forms to provide for the designation created by this bill. The bill would require money in the California YMCA Youth and Government Fund, upon appropriation by the Legislature, to be allocated to the Franchise Tax Board, the Controller, and the State Department of Education for reimbursement of all costs incurred by the Franchise Tax Board, the Controller, and the department in connection with their duties collecting and administering the fund and the balance to the State Department of Education for distribution to the California YMCA Youth and Government Program, and nonprofit civic youth organizations, as specified. The bill would provide that these provisions would be repealed on either January 1 of the 5th taxable year following the first appearance of the California YMCA Youth and Government Fund on the tax return, or January 1 of an earlier year, if the Franchise Tax Board determines that the amount of contributions estimated to be received during a calendar year will not equal or exceed the minimum contribution amount, as defined, for the calendar year.