MI SB0382

Allows individuals to designate $5.00 or more of their income tax refund to contribute to various charitable and public funds starting with the 2008 tax year.

Adds the Special Olympics Michigan fund as a new contribution option beginning with the 2012 tax year, to be created under section 5 of the Special Olympics Michigan fund act.

Requires the Department of Treasury to maintain a separate contributions schedule listing all available fund designations in alphabetical order and to incorporate new designations as soon as practical.

Permits the Department to remove a fund designation from the schedule if it fails to raise $100,000 in any tax year for two consecutive years.

Allows taxpayers to designate contributions that exceed their refund amount, with the excess added to their tax liability for that year.