OK SB575

Extends the income tax refund donation provision for the Oklahoma Y.M.C.A. Youth and Government program through tax years beginning after December 31, 2015 (previously set to expire after December 31, 2009).

Requires state individual and corporate income tax return forms to include an option allowing taxpayers to donate refunds to the Y.M.C.A. Youth and Government program.

Creates the Oklahoma Youth and Government Revolving Fund administered by the State Department of Education to receive and distribute donated refund amounts as grants to the Y.M.C.A. program for civics education.

Allows taxpayers to claim refunds of erroneous donations within three (3) years from the tax return due date, with refund amounts deducted from the following year's donations to the program.

Becomes effective November 1, 2015.