California Government Code

§ 8757

GOV § 8757 Effective Jan 1, 2023Div. 1 · Title 2 · Ch. 9.1

Statute text

For purposes of this chapter, the following definitions apply:

(a)“Adjusted gross revenue” means the average annual revenue received over the preceding three years, in whatever form, received or accrued from whatever source, excluding funds received pursuant to Section 8753.6 and excluding revenue earmarked by the grantor or donor solely for capital expenditures or any passthrough funds collected for the benefit of another organization that is received during the tax year of an organization.

(b)“Capital expenditures” means funds used by a company to acquire, upgrade, or maintain fixed assets, including property, plants, buildings, technology, or equipment.

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Legislative history

Added by Stats. 2022, Ch. 731, Sec. 2. (SB 1116) Effective January 1, 2023.