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Assembly committee advances bill allowing CalABLE to accept philanthropic funds and expand outreach
Summary
The Assembly Committee on Revenue and Taxation voted 5-0 to send AB 1076, which would allow the CalABLE board to accept philanthropic and legislative funds and require CalABLE information on state tax instructions, to the Appropriations Committee.
AB 1076, introduced by Assemblymember LaTasha Addis, cleared the Assembly Committee on Revenue and Taxation on a 5-0 vote and was referred to the Appropriations Committee.
The bill would authorize the CalABLE board — California's implementation of the federal ABLE program — to accept grants, gifts and legislative appropriations and to use those funds for outreach to increase account enrollment. CalABLE accounts are tax-advantaged accounts that allow people with…
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