§ 19548.3. — 19548.3. (Added by Stats. 2017, Ch. 250, Sec. 20.)

California § 19548.3.

• Jurisdiction: California
• Code RTC: Revenue and Taxation Code - RTC
• Div. 2.: DIVISION 2. OTHER TAXES
• Part 10.2.: PART 10.2. ADMINISTRATION OF FRANCHISE AND INCOME TAX LAWS
• Ch. 7.: CHAPTER 7. Administration of Tax
• Art. 2.: ARTICLE 2. Disclosure of Information

Text

(a)
Notwithstanding any other law, the Scholarshare Investment Board shall disclose the name and individual taxpayer identification number (ITIN) or social security number of a participant in a qualified tuition program established pursuant to Article 19 (commencing with Section 69980) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code to the Franchise Tax Board for the purpose of verifying the income eligibility for participants of any of
the programs administered by the Scholarshare Investment Board.
(b)
(1)
The Franchise Tax Board, upon receipt of this information, shall inform the Scholarshare Investment Board of both of the following:
(A)
The amounts of the federal adjusted gross income as reported by the taxpayer to the Franchise Tax Board.
(B)
The amounts of the California adjusted gross income as reported by the taxpayer to the Franchise Tax Board or as adjusted by the Franchise Tax Board.
(2)
The Franchise Tax Board shall provide the information to the Scholarshare Investment Board for the most recent taxable year that the Franchise Tax Board has information available, and shall include the first and last name, date of birth, and the ITIN or social security
number of the taxpayer.
(c)
The Franchise Tax Board shall return or destroy all information received from the Scholarshare Investment Board after completing the exchange of information.

Legislative History

Added by Stats. 2017, Ch. 250, Sec. 20. (AB 129) Effective September 16, 2017.