2014 Oklahoma Statutes
Title 2. Agriculture
§2-18-408. Contributing to Eastern Red Cedar Revolving Fund - State income tax return.

A. Each individual taxpayer required to file a state income tax return who desires to contribute to the Eastern Red Cedar Revolving Fund, as created in Section 8 of this act, may designate the contribution on the appropriate income tax form. The contribution may not increase or decrease the income or liability of the taxpayer and may be made by reducing the income tax refund of a taxpayer by the amount designated or by accepting additional payment from the taxpayer by the amount designated, whichever is appropriate.

B. 1. The Oklahoma Tax Commission shall include on each state individual income tax return form for tax years beginning after December 31, 2010, an opportunity for the taxpayer to donate for the benefit of the Eastern Red Cedar Revolving Fund. The instructions accompanying the income tax form shall be provided to the Oklahoma Tax Commission by the Eastern Red Cedar Registry Board and shall contain a description of the purpose for which the Eastern Red Cedar Revolving Fund was established and information on the use of monies from the income tax contribution.

2. Taxpayers who are entitled to refunds shall have the refunds reduced by the amount designated by the taxpayer. The Oklahoma Tax Commission shall annually determine the total amount designated plus the amount received in excess payments and shall report the total amount to the Office of the State Treasurer. The State Treasurer shall credit the total amount to the Eastern Red Cedar Revolving Fund created in Section 8 of this act at the earliest possible time.

C. The incremental cost of administration of contributions shall be paid out of the fund to the Oklahoma Tax Commission from amounts received pursuant to this section before funds are expended for the purposes of the fund.

Added by Laws 2010, c. 454, § 9, eff. July 1, 2010.