Revolving Fund – Tax forms. A. Each individual taxpayer required to file a state income tax return and each corporation required to file a corporate tax return who desires to contribute to the Public School Classroom Support Revolving Fund created in Section 1-123 of this title may designate the contribution on the appropriate income or corporate tax form. The contribution may not increase or decrease the income or liability of the taxpayer and may be made by reducing the 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 or corporate tax return form for tax years beginning after December 31, 2011, an opportunity for the taxpayer to donate for the benefit of the Public School Classroom Support Revolving Fund. The instructions accompanying the tax form shall be provided to the Oklahoma Tax Commission by the State Superintendent of Public Instruction and shall contain a description of the purpose for which the Public School Classroom Support Revolving Fund was established and information on the use of monies from the 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 Public School Classroom Support Revolving Fund created in Section 1-123 of this title 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. D. Pursuant to Section 2368.18 of Title 68 of the Oklahoma Statutes, the income tax checkoff contained in this section is hereby reauthorized effective January 1, 2019.
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