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HomeEducation CodeCh. 2Art. 8§ 18202 Business Organizations And Opportunities For Kids

§ 18202 Business Organizations And Opportunities For Kids

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 18202 Business Organizations And Opportunities For Kids

Key Takeaways

  • •There's a special fund called the 'Business Organizations and Opportunities for Kids Fund' where private companies can donate money.
  • •This money is used to buy reading materials for classrooms.
  • •If a company donates to this fund, they don't have to pay taxes on that money, like it's a charity donation.
  • •The money in the fund can only be spent when the government says it's okay in the yearly budget.

Example

A big toy company wants to help kids in school.

The toy company can give money to the 'Business Organizations and Opportunities for Kids Fund'. This money will be used to buy books for kids in classrooms. The toy company won't have to pay taxes on the money they donated, just like when you give money to a charity.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 18202 Business Organizations And Opportunities For Kids

(a) A fund is hereby established in the State Treasury to be known as the Business Organizations and Opportunities for Kids Fund. Moneys donated by private entities for the purchase of classroom reading materials pursuant to this article shall be deposited into this fund. These donations shall be tax exempt and treated as a charitable contribution to the extent allowed under both federal and state law. (b) All moneys in the Business Organizations and Opportunities for Kids Fund are available for expenditure only upon an appropriation in the annual Budget Act or other act. The fund shall be administered by the State Librarian in consultation with the Superintendent of Public Instruction. The allocation and expenditure of money in the fund shall be consistent with Section 18203. (Added by Stats. 1999, Ch. 78, Sec. 19. Effective July 7, 1999.)

Last verified: January 23, 2026

Key Terms

Business Organizations and Opportunities for Kids Fundclassroom reading materialstax exemptcharitable contributionState LibrarianSuperintendent of Public InstructionBudget Act

Related Statutes

  • § 13030 Program Funding And Reporting
  • § 252 Superintendent Gender Equity Data
  • § 35250 School Board Financial Reporting
  • § 1201 County Superintendent Travel Expenses
  • § 1240.2 County Education Financial Reporting

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 18202.
View Official Source