Oklahoma § 68-2368.26 - Donation from tax refund - Historic Greenwood District

§ 68-2368.26. Donation from tax refund - Historic Greenwood District

Music Festival Revolving Fund.

A. Each state individual income tax return form for tax years

which begin after December 31, 2011, and each state corporate tax

return form for tax years beginning after December 31, 2011, shall

contain a provision to allow a donation from a tax refund for the

purpose of supporting music festivals held in the Historic Greenwood

District.

B. Except as otherwise provided for in this section, all monies

generated pursuant to subsection A of this section shall be paid to

the State Treasurer by the Oklahoma Tax Commission and placed to the

credit of the Historic Greenwood District Music Festival Revolving

Fund created in subsection C of this section.

C. There is hereby created in the State Treasury a revolving

fund to be designated the "Historic Greenwood District Music

Festival Revolving Fund" and administered by the Oklahoma Historical

Society. The fund shall be a continuing fund, not subject to fiscal

year limitations, and shall consist of all the monies received by

the Oklahoma Historical Society pursuant to the provisions of

subsection A of this section. All monies accruing to the credit of

the fund are appropriated and may be budgeted and expended by the

Oklahoma Historical Society at the beginning of each fiscal year for

Oklahoma Statutes - Title 68. Revenue and Taxation

the purpose of promoting and supporting music festivals in the

Historic Greenwood District. Expenditures from the fund shall be

made upon warrants issued by the State Treasurer against claims

filed as prescribed by law with the Director of the Office of

Management and Enterprise Services for approval and payment.

D. If a taxpayer makes a donation pursuant to subsection A of

this section in error, such taxpayer may file a claim for refund at

any time within three (3) years from the due date of the tax return.

Such claims shall be filed pursuant to the provisions of Section

2373 of this title. Prior to the apportionment set forth in this

section, an amount equal to the total amount of refunds made

pursuant to this subsection during any one (1) year shall be

deducted from the total donations received pursuant to this section

during the following year and such amount deducted shall be paid to

the State Treasurer and placed to the credit of the Income Tax

Withholding Refund Account.

Added by Laws 2011, c. 384, § 4, eff. Nov. 1, 2011. Amended by Laws

2012, c. 304, § 565.