We previously wrote about California AB 1712 when it was a spot bill, a placeholder to address the Legislature’s intent to enact legislation on the subject matter of donor advised funds (DAFs). Fast forward 10 months and AB 1712 has been amended to focus on transparency and data collection without reference to a minimum distribution […]
ab 1712
California AB 1712: Donor Advised Funds
California Assembly Bill 1712, introduced by Assembly Member Buffy Wicks (D-Oakland) on February 22, 2019, expresses “the intent of the Legislature to enact legislation that would relate to donor advised funds for the purpose of improving transparency and accountability through annual reporting requirements, promoting best practices, and requiring minimum annual distributions.” We’ve been expecting to […]