HF 1175

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; providing a checkoff on the
income tax return for donations to the veterans of the
global war on terrorism fund; proposing coding for new
law in Minnesota Statutes, chapter 290.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [290.433] GLOBAL WAR ON TERRORISM CHECKOFF.
new text end

new text begin Every individual who files an income tax return or property
tax refund claim, and every corporation that files an income tax
return, may designate on their return that $1 or more shall be
added to the tax or deducted from the refund that would
otherwise be payable by or to that individual or corporation and
paid into an account to be established for the purpose of paying
bonuses to residents of this state who are veterans of the
global war on terrorism. The commissioner shall, on the income
tax returns and the property tax refund claim form, notify
filers of their right to designate that a portion of their tax
or refund shall be paid into the account for veterans of the
global war on terrorism. The amounts designated under this
section shall be annually appropriated to the commissioner of
the Department of Veterans Affairs to pay bonuses to veterans of
the global war on terrorism. All interest earned on money
accrued shall be credited to the account by the commissioner of
finance.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable
years beginning after December 31, 2004, and for property tax
refund claims for property taxes payable after December 31, 2004.
new text end