Oklahoma § 68-2368.5 - Support of common schools - Donation from tax refund

§ 68-2368.5. Support of common schools - Donation from tax refund

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

which begin after December 31, 2003, and each state corporate tax

return form for tax years beginning after December 31, 2003, shall

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

benefit of the common schools of this state, as follows:

Support of Oklahoma Common Schools. Check if you wish to donate

from your tax refund: ( ) $2, ( ) $5, or ( ) $____.

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 Income Tax Checkoff Revolving Fund for the Support of

Oklahoma Common Schools created in subsection C of this section.

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

fund for the State Department of Education to be designated the

"Income Tax Checkoff Revolving Fund for the Support of Oklahoma

Common Schools". The fund shall be a continuing fund, not subject

to fiscal year limitations, and shall consist of all monies

apportioned to the fund pursuant to the provisions of this section.

All monies accruing to the credit of the fund are hereby

appropriated and may be budgeted and expended by the State

Department of Education for the purpose of funding common education

in this state. Such monies shall be apportioned as and in the

manner that state aid is provided to the common schools of this

state. 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.

Oklahoma Statutes - Title 68. Revenue and Taxation

Added by Laws 2003, c. 104, § 1, eff. Nov. 1, 2003.

2012, c. 304, § 551.

Amended by Laws