AR SB461

Repeals Arkansas Code § 26-51-2501, eliminating the income tax refund check-off program for the United States Olympic Committee.

Creates a new income tax refund check-off program for the Arkansas Game and Fish Foundation allowing individual and corporate taxpayers to designate $1, $5, $10, a custom amount, or their full refund to the foundation.

Requires the Revenue Division to include the Arkansas Game and Fish Foundation designation on all individual and corporate income tax forms, with refunds reduced by the designated amount.

Directs the Department of Finance and Administration to certify quarterly contributions to the Treasurer of State, who deducts amounts from the Individual Income Tax Withholding Fund and Corporate Income Tax Withholding Fund accordingly.

Effective for tax years beginning on or after January 1, 2015.