HB 1316 Summary

• Requires all Oklahoma state individual and corporate income tax return forms for tax years beginning after December 31, 2013, to include an optional donation provision to the General Revenue Fund.

• All donations made through the tax return donation option are paid to the State Treasurer by the Oklahoma Tax Commission and credited to the General Revenue Fund.

• Allows taxpayers who make donations in error to file refund claims within three years from the due date of the tax return, processed according to existing refund procedures under Section 2373 of Title 68.

• Requires the Oklahoma Tax Commission to promulgate rules establishing procedures and forms necessary for implementing the donation option.

• Effective date: January 1, 2014.