Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB395 Compare Versions

Version 1 (Old)

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4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	1st Session of the 59th Legislature (2023)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 395 By: Haste of the Senate
7	37
8	38		and
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10	40		Miller of the House
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15	45		An Act relating to income tax refund donations ;
16	46		authorizing donation from income tax re fund for
17	47		Recovering Oklahomans After Di saster Revolving Fund ;
18	48		creating Recovering Oklahomans After Disaster
19	49		Revolving Fund and providing for deposit of monies
20	50		thereto; authorizing specified funds to be expen ded
21	51		for certain purpose; providing procedures for refund
22	52		under specified circumstances; providing for
23	53		codification; and providing an effective date.
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29		-	SUBJECT: Income tax refund donations
30		-
31	59		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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33	60		SECTION 1. NEW LAW A new sec tion of law to be co dified
34	61		in the Oklahoma Statutes as Section 2368.33 of Title 68, unless
35	62		there is created a duplication in numbering, reads as follows:
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37	63		A. Each state indiv idual income tax return form for tax year
38	64		2024 and subsequent tax years, and each state corporate tax return
39	65		form for tax year 2024 and subsequent tax years , shall contain a
40	66		provision to allow a donation from a tax refund for the benefit of
41	67		Recovering Oklahoman s After Disaster.
42	68
	69	+	SB395 HFLR Page 2
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43	95		B. Except as otherwise provided for in this section, all monies
44	96		generated pursuant to subsection A of this section shall be paid to
45	97		the State Treasurer by the Oklahom a Tax Commission and placed to the
46		-
47		-	ENR. S. B. NO. 395 Page 2
48	98		credit of the Recovering Oklahomans After Disaster Revolving Fund
49	99		created in subsection C of this section.
50		-
51	100		C. There is hereby create d in the State Treasury a revolving
52	101		fund to be designate d the “Recovering Oklahomans Aft er Disaster
53	102		Revolving Fund” and administered by the State Treasurer. The fund
54	103		shall be a continuing fund, not subject to fiscal year limitations,
55	104		and shall consist of all the monies received by the State Treasurer
56	105		pursuant to the provisions of subsection A of this section. All
57	106		monies accruing to the credit of the fund are a ppropriated and may
58	107		be budgeted and expended by the State Treasurer at the beginning of
59	108		each fiscal year for the purpose of providing grants to Recovering
60	109		Oklahomans After Disaster for purposes of serving disaster survivors
61	110		by providing free home repairs i n this state. Expenditures from the
62	111		fund shall be made upon warrants issued by the State Treasur er
63	112		against claims filed as prescribed by law with the Di rector of the
64	113		Office of Management and Enterprise Services for approval and
65	114		payment.
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67	115		D. If a taxpayer makes a donation pursuant to subsection A of
68	116		this section in error, such taxpayer may file a clai m for refund at
69	117		any time within three (3) years from the due date of the tax return.
70	118		Such claims shall be filed pursuant to the provisions of Section
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	120	+	SB395 HFLR Page 3
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71	146		2373 of this title. Prior to the apportionment set forth in this
72	147		section, an amount equal to the total a mount of refunds made
73	148		pursuant to this subsection during any one (1) year shall be
74	149		deducted from the total donations received pursuant to this section
75	150		during the following year and such amount deducted shall b e paid to
76	151		the State Treasurer and placed to the credit of the Income Tax
77	152		Withholding Refund Account.
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79	153		SECTION 2. This act shall become effective November 1, 2023.
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82		-	ENR. S. B. NO. 395 Page 3
83		-	Passed the Senate the 7th day of March, 2023.
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86		-
87		-	Presiding Officer of the Senate
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90		-	Passed the House of Representatives the 19th day of April, 2023.
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94		-	Presiding Officer of the House
95		-	of Representatives
96		-
97		-	OFFICE OF THE GOVERNOR
98		-	Received by the Office of the Governor this _______ _____________
99		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
100		-	By: _______________________________ __
101		-	Approved by the Governor of the State of Oklahoma this _____ ____
102		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
103		-
104		-	_________________________________
105		-	Governor of the State of Oklahoma
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107		-
108		-	OFFICE OF THE SECRETARY OF STATE
109		-	Received by the Office of the Secretary of State this __________
110		-	day of __________________, 20 _______, at _______ o'clock _______ M.
111		-	By: _______________________________ __
	155	+	COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS AND BUDGET , dated
	156	+	04/13/2023 - DO PASS.