Section 20514 Of Article 1. General Provisions And Definitions From California Revenue And Taxation Code >> Division 2. >> Part 10.5. >> Chapter 1. >> Article 1.
20514
. (a) Assistance shall not be allowed under this chapter if
gross household income, after allowance for actual cash expenditures
that are reasonable, ordinary, and necessary to realize income,
exceeds thirty-five thousand two hundred fifty-one dollars ($35,251).
(b) With respect to assistance that is provided by the Franchise
Tax Board pursuant to this chapter for the 2002 calendar year and
each calendar year thereafter, the gross household income figure that
applies to assistance provided by the Franchise Tax Board during
that period shall be the gross household income figure that applied
to assistance provided by the Franchise Tax Board in the same period
in the immediately preceding year, multiplied by an inflation
adjustment factor calculated as follows:
(1) On or before February 1 of each year, the Department of
Industrial Relations shall transmit to the Franchise Tax Board the
percentage change in the California Consumer Price Index for all
items from June of the second preceding calendar year to June of the
immediately preceding calendar year.
(2) The Franchise Tax Board shall add 100 percent to the
percentage change figure that is furnished pursuant to paragraph (1)
and divide the result by 100.
(3) The Franchise Tax Board shall multiply the gross household
income figure that applies in the immediately preceding year by the
inflation adjustment factor determined in paragraph (2), and round
off the resulting product to the nearest one dollar ($1).