Personal income tax: credits: charitable contributions.

The Personal Income Tax Law allows various credits against the tax imposed by that law. Existing law requires any bill authorizing a new tax credit to contain, among other things, specific goals, purposes, and objectives that the tax credit will achieve, detailed performance indicators, and data collection requirements. This bill would allow a credit against that tax for each taxable year beginning on or after January 1, 2018, in an amount equal to the amount donated to a qualified charitable organization, as defined, not to exceed a specified amount per taxable year. The bill would require the Franchise Tax Board to post on a new page on its Internet Web site a list of the names of each qualified charitable organization. The bill would provide that these provisions are severable. The bill would also include additional information required for any bill authorizing a new income tax credit. This bill would take effect immediately as a tax levy.