Golden State Scholarshare Trust: Franchise Tax Board: returns.

The Golden State Scholarshare Trust Act establishes the Golden State Scholarshare Trust, under the administration of the Scholarshare Investment Board, which provides methods by which an individual can contribute to an account for paying specified costs for a student for postsecondary education and requires the board to market the program to Californians. Existing law requires the Franchise Tax Board to make a refund to a taxpayer of any overpayment of taxes. Existing law authorizes taxpayers to contribute their refunds for the support of specified funds or accounts. This bill would authorize an individual to designate on the tax return that a contribution in excess of tax liability, as specified, be deposited by the Franchise Tax Board to the credit of the individual's qualified tuition program account, as defined. This bill would require the Franchise Tax Board and the Scholarshare Investment Board to provide information on their respective Internet Web sites and marketing materials regarding the qualified tuition program designation on the income tax return.