(a) An individual may designate on the tax return, under the space titled “Protect Our Coast and Oceans Voluntary Tax Contribution Fund,” that a contribution in excess of tax liability, if any, be made to the California Beach and Coastal Enhancement Account established by paragraph (1) of subdivision (c) of Section 5067 of the Vehicle Code. That designation is to be used as a voluntary contribution on the tax return.
(b) A contribution shall be in full dollar amounts and may be made individually by each signatory on a joint return.
(c) A designation made under subdivision (a) shall be made for any taxable year on the original return for that taxable year, and once made shall be irrevocable. In the event that payments and credits reported on the return, together with any other credits associated with the individual’s account, do not exceed the individual’s tax liability, if any, the return shall be treated as though no designation had been made.
(d) The Franchise Tax Board shall revise the form of the return to include a space labeled the “Protect Our Coast and Oceans Voluntary Tax Contribution Fund” to allow for the designation permitted under subdivision (a). The form shall also include in the instructions information that the contribution may be in the amount of one dollar ($1) or more and that the contribution shall be used for grants and programs that preserve, protect, or enhance coastal resources and promote coastal and marine educational activities for underserved communities.
(e) A deduction shall be allowed under Article 6 (commencing with Section 17201) of Chapter 3 of Part 10 for any contribution made pursuant to subdivision (a).
(Amended by Stats. 2017, Ch. 519, Sec. 1. (SB 503) Effective January 1, 2018. Inoperative on or before January 1, 2025, as prescribed in Section 18748. Repealed on or before December 1, 2025, pursuant to Section 18748.)
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