Bill > SB1073

This bill establishes the Black Cultural District Voluntary Tax Contribution Fund, allowing individual taxpayers to voluntarily donate any amount in excess of their personal income tax liability to this fund by marking a designated space on their tax return. The Franchise Tax Board, the state's tax collection agency, will be required to update tax forms to include this option, and contributions will be used to construct and maintain a Black Cultural District in the southern part of the City of Los Angeles, aiming to celebrate diversity, support arts and culture, and promote socioeconomic and ethnic diversity. This provision will be in effect until January 1, 2031, and will become inoperative if annual contributions fall below $250,000.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1073