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ID H0381
Bill
Status
2/20/2014
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Amends Section 63-3067A to add the Veterans Support Fund created in Section 65-209 to the list of trust accounts that individuals can designate their income tax refunds or donations toward.
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Allows individuals with income tax refunds to designate all or any portion of the refund to the Veterans Support Fund, or to include a voluntary donation to the fund in addition to their tax obligation.
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Designations must be made in the manner and form prescribed by the state tax commission as a conspicuous portion of the principal individual income tax form.
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Establishes that the state tax commission retains $3,000 from each account for start-up costs in the first year, and thereafter retains $3,000 or 20% of annual moneys remitted, whichever is less, to cover collection and administration costs.
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Creates the Veterans Support Fund in the state treasury to receive designated refunds and donations, with funds used exclusively for veteran support programs and administration of gold star license plate eligibility, and continuously appropriated for such purposes.
Legislative Description
Amends existing law to provide for designation by individuals of a refund for an overpayment of income taxes or a donation by individuals to the Veterans Support Fund.
VETERANS SERVICES
Last Action
Reported Signed by Governor on February 20, 2014 Session Law Chapter 17 Effective: 07/01/2014
2/20/2014