Added by Stats. 2004, Ch. 715, Sec. 2. Effective January 1, 2005.
(a)The board shall notify the Controller, the Treasurer, and the relevant department of the information listed in subdivision (b) after the board receives notification from the Franchise Tax Board pursuant to Section 19560 of the Revenue and Taxation Code that a person is claiming a tax credit under this chapter.
(b)The board shall provide all of the following information:
(1)The bond fund and specific provision of the bond act under which the credit is being claimed.
(2)The project name, appropriation under which the credit was encumbered, and, if applicable, the related local government.
(3)The department that will transfer the appropriate bond funds to the Natural Heritage Preservation Tax Credit Reimbursement Account.
(4)The amount of the tax credit for that tax year.
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