(a)
For taxable years beginning on or after January 1, 2014, any individual may designate on the tax return that a contribution in excess of the tax liability, if any, be made to the California Senior Legislature Fund established by Section 18726 to be used to conduct the sessions of the California Senior Legislature and to support its ongoing activities on behalf of older persons.
(b)
The contribution shall be in full dollar amounts and may be made individually by each signatory on the joint return.
(c)
A designation under subdivision (a) shall be made for any taxable year
on the initial return for that taxable year, and once made shall be irrevocable. If 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, the return shall be treated as though no designation has been made.
(d)
If an individual designates a contribution to more than one account or fund listed on the tax return, and the amount available is insufficient to satisfy the total amount designated, the contribution shall be allocated among the designees on a pro rata basis.
(e)
The Franchise Tax Board shall revise the form of the return to include a space labeled “California Senior Legislature 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 to conduct the sessions of the California Senior Legislature and to support its ongoing activities on behalf of older persons.
(f)
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).