305.792 Surplus refund donations to education

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305.792 Surplus refund donations to education.

(1)The Department of Revenue shall provide a means by which personal income tax return filers may indicate that a surplus refund credit under ORS 291.349 shall instead be used for funding education.

(2)(a) A personal income taxpayer may elect not to claim a surplus refund credit under ORS 291.349, after offset of any outstanding debt or liability, in order to achieve a corresponding transfer of such moneys from the General Fund to the State School Fund for the support of public elementary and secondary school education. The taxpayer may make the election in the form and manner prescribed by the department by rule.

(b)A taxpayer that indicates that the credit will not be claimed but that nevertheless claims the credit in determining the taxpayer’s tax liability shall be considered to not have made the election under this subsection.

(c)The election not to claim a credit under this subsection may not be revoked by filing an amended return.

(3)Following the determination to credit personal income taxes pursuant to ORS 291.349, the department shall annually certify to the State Treasurer the total amount of allowable credits that have not been claimed pursuant to an election made under subsection

(2)of this section. The certification shall be made on or before December 31 of each year, until the tax year for which the credit would otherwise be claimed becomes a closed tax year. [1999 c.960 §2; 2011 c.299 §2; 2013 c.733 §3; 2016 c.29 §3]