State Treasurer’s Office Asks CSEA to Spread the Word on College Access Tax Credit Fund

This week, California State Treasurer Fiona Ma’s office contacted CSEA to help get the word out about the new College Access Tax Credit Fund (CATCF) program for 2021. The program is designed to bolster financial aid for California’s low-income college students by providing a tax credit to taxpayers and businesses that contribute to the Cal Grants financial program.
Individuals, businesses and insurance companies that contribute to the fund will get a tax credit equal to 50 percent of their contributions. Fiona Ma’s office wanted to make sure that CSEA Members and their clients are aware of this program for the 2021 tax year, and that the deadline to apply for the tax credit is January 3, 2022. The State Treasurer’s office has also provided a CATCF fact sheet that details how to apply, a rundown of the benefits, and the office’s contact information.
CSEA is excited about the opportunity to continue working with the State Treasurer's office, and has promised to both serve as a tax policy resource for future issues and to help distribute any additional informational materials for tax preparers.