HB 1612 Summary

• Allows taxpayers to designate a portion of their state income tax refund as a donation to Hearts For Hearing, beginning with tax years after December 31, 2012.

• Creates the Hearts For Hearing Revolving Fund to be administered by the State Department of Health, funded by tax refund donations.

• Directs the Oklahoma Tax Commission to transfer designated donations to the State Treasurer, which deposits them into the revolving fund for grants to Hearts For Hearing to provide comprehensive hearing health programs for children and adults.

• Permits taxpayers who make erroneous donations to file refund claims within three years of the tax return due date, with refund amounts deducted from the following year's fund allocation.

• Takes effect January 1, 2014.