Senate Governance and Finance Committee Hearing - April 24, 2019
Senate Bill 241 will reform the Voluntary Contribution Program by expanding contribution options on the California personal income tax return, Franchise Tax Board (FTB) Form 540.
The Voluntary Contribution Programs has had a checkered past, ranging from extraordinarily long wait times for the funds to be distributed, to tax preparation software not including VCF on their platform.
There are currently 27 VCF listed on the Form 540, and in the 2017-18 legislative session, seven new VCF were approved and signed into law, bringing the form to a hefty 5 pages. At the current rate, it will not be long before the Form 540 reaches six pages. We should be finding ways to make the state income tax form simpler, not expanding it.
Eric Dietz, (916) 651-4037