This bill amended Franchise Tax Board rules to permit California filers to split their refund into more than one account. Simply by allowing multiple deposit accounts on tax forms, the state made it easier for filers to save automatically at tax time. For many working families, tax time is one of the best opportunities to save, as Anne Stuhldreher explored in her policy brief Refund Splitting earlier that year.  See our policy area page for more on our work to Promote Tax-Time Saving.

Status:
This bill passed the Legislature and was signed by Gov. Schwarzenegger on July 20, 2006. Read our press release here. Final text is available under 'Related Files.'