MI HB4632

Adds Special Olympics Michigan fund as a new contribution designation option for individual income tax refunds beginning with the 2012 tax year and each subsequent tax year.

Allows taxpayers to designate contributions of $5.00, $10.00, or more from their refund to the Special Olympics Michigan fund through a separate contributions schedule on the state income tax return form.

Permits taxpayers whose refunds are insufficient to make a contribution to designate an amount that will be added to their tax liability instead.

Requires the department to cease including a contribution designation on the schedule if it fails to raise $50,000.00 in any tax year for 2 consecutive tax years.

Limits the contributions schedule to no more than 10 separate contribution designations in any single tax year, with new designations listed in alphabetical order.