(1) Effective for taxable years beginning January 1, 2016, any taxpayer required to file a return under KRS § 141.180 who is entitled to an income tax refund and who desires to contribute to Special Olympics Kentucky may designate an amount, not to exceed the amount of the refund, to be paid to Special Olympics Kentucky. A designation made under this section shall not affect the income tax liability of the taxpayer, but it shall reduce the income tax refund by the amount designated.
(2) The tax refund designation authorized by this section shall be printed on the face of the Kentucky individual income tax return.
(3) The instructions accompanying the individual income tax return shall include a description of Special Olympics Kentucky, and the purposes for which the funds from the income tax refund designation may be used.
(4) The commissioner shall, by December 1, 2017, and by December 1 of each year thereafter, transfer the funds designated by taxpayers under this section to Special Olympics Kentucky.
Effective: June 24, 2015
History: Created 2015 Ky. Acts ch. 96, sec. 1, effective June 24, 2015.