(a) The Franchise Tax Board shall revise taxpayer form instructions, for returns required to be filed, pursuant to Article 1 (commencing with Section 18501) of Chapter 2, to include information about the ability of a taxpayer to directly deposit a portion of the refund into the Golden State Scholarshare College Savings Trust.

(b) The Scholarshare Investment Board shall provide the Franchise Tax Board with a description of the Golden State Scholarshare College Savings Trust on or before a specified date provided by the Franchise Tax Board. The length of the description shall be five lines or less.

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(c) The Franchise Tax Board shall revise the taxpayer form instructions in the most cost-effective manner.

(d) For purposes of this section, “Golden State Scholarshare College Savings Trust” has the meaning set forth in subdivision (e) of § 69980 of the Education Code.

(Added by Stats. 2014, Ch. 135, Sec. 1. (AB 1796) Effective January 1, 2015.)