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IN HB1250
Bill
Status
1/11/2016
Primary Sponsor
Donna Schaibley
Click for details
AI Summary
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Amends IC 6-8.1-9-4 to allow individual and joint filers to designate all or part of their state income tax refund to the veterans' affairs trust fund.
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Taxpayers may designate specific amounts or their entire refund to be directed to one or more of three funds: the nongame fund, the state general fund for public education (K-12), or the veterans' affairs trust fund.
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If designated amounts exceed the refund, all refund amounts are reduced proportionately across designated funds, with any rounding remainder deposited in the nongame fund.
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Tax return instructions must include descriptions of the three fund purposes, with the veterans' fund description covering financial assistance to armed forces veterans in accordance with IC 10.
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Effective July 1, 2016.
Legislative Description
Tax return donations for veterans. Provides for space on state income tax forms to enable taxpayers to donate all or part of the taxpayer's tax refund to the veterans' affairs trust fund.
Last Action
Representative Moseley added as coauthor
1/19/2016