(a) Any person that, on or before the expiration of this Section 2805.2, makes an irrevocable gift to the Our City, Our Home Fund (established in Administrative Code Section 10.100-164) shall be allowed a non-refundable credit against the Homelessness Gross Receipts Tax liability of that person or the combined group of which that person is a part.
(b) The credit authorized by this Section 2805.2 shall equal 110% of the amount of the irrevocable gift made under subsection (a).
(c) If the irrevocable gift described in subsection (a) is made between January 1 and the date the person or combined group timely files its original annual tax return, the credit authorized by this Section 2805.2 shall be available for the tax year prior to the calendar year in which the person makes the irrevocable gift. If the irrevocable gift is made at any other time during the tax year, the credit authorized by this Section shall be available for the tax year in which the irrevocable gift is made. The person making the irrevocable gift may carry forward any unused portion of this credit to future tax years up to and including tax year 2025 to be used against the future Homelessness Gross Receipts Tax liability of the person or the combined group of which that person is a part in that future tax year. No part of this credit may be carried forward to tax years commencing on or after January 1, 2026.
(d) The Tax Collector shall verify that any credit claimed pursuant to this Section 2805.2 is correct.
(e) Notwithstanding Administrative Code Section 10.100-305 or any other provision of the Municipal Code restricting the department’s acceptance of gifts, the Office of the Treasurer and Tax Collector is authorized to accept the gifts described in subsection (a) of this Section 2805.2.
(f) This Section 2805.2 shall expire by operation of law and shall not be available for irrevocable gifts made on or after the earlier of:
(1) The date on which San Francisco Superior Court Case No. CGC-19-573230 (City and County of San Francisco v. All persons interested in the matter of Proposition C on the November 6, 2018 San Francisco ballot, authorizing an increase in specified business taxes to fund specified homeless services in San Francisco, and all other matters and proceedings relating thereto) is finally resolved; and
(2) January 1, 2024.
Any irrevocable gift made to the Our City, Our Home Fund on or after the date on which San Francisco Superior Court Case No. CGC-19-573230 is finally resolved, or on or after January 1, 2024, whichever is earlier, shall not entitle the person making the irrevocable gift to the credit described in this Section 2805.2.
(Added by Ord. 73-19, File No. 190092, App. 4/26/2019, Eff. 5/27/2019)