Section 23711.5 Of Article 1. Exemptions From This Part From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 4. >> Article 1.

. The Golden State Scholarshare Trust, established pursuant to Article 19 (commencing with Section 69980) of Chapter 2 of Part 42 of the Education Code, is an instrumentality of this state and the income of the Scholarshare trust shall be exempt from taxes imposed under this part. The Scholarshare trust is established and shall be maintained as a qualified state tuition program as defined in Section 529 of the Internal Revenue Code.