Minnesota Legislature
HF 1009
as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
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A bill for an act
relating to income tax; providing a checkoff for individual and corporate income
tax returns; establishing a fund for use by the Minnesota Historical Society to
fund sesquicentennial celebrations.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin SESQUICENTENNIAL CELEBRATION CHECKOFF.
new text end
new text begin Subdivision 1. new text end
new text begin Individual tax checkoff. new text end
new text begin
For taxable years 2007 and 2008, every
individual who files an income tax return or property tax refund claim form may designate
on their original 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 and paid into an
account to be established to promote the celebration of the state's sesquicentennial. The
commissioner of revenue shall, on the income tax return 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 sesquicentennial account. The sum of the amounts so designated
to be paid shall be credited to the account for use by the Minnesota Historical Society to
fund various sesquicentennial celebrations throughout the state including, but not limited
to, providing grants to cities and counties planning sesquicentennial celebrations. All
interest earned on money accrued, gifts to the program, contributions to the program, and
reimbursements of expenditures in the sesquicentennial account shall be credited to the
account by the commissioner of finance.
new text end
new text begin
The state pledges and agrees with all contributors to the sesquicentennial account to
use the funds contributed solely for sesquicentennial celebrations throughout the state and
further agrees that it will not impose additional conditions or restrictions that will limit
or otherwise restrict the ability of the Minnesota Historical Society to use the available
funds for the celebration.
new text end
new text begin Subd. 2. new text end
new text begin Corporate tax checkoff. new text end
new text begin
For taxable years 2007 and 2008, a corporation
that files a franchise tax return may designate on its original return that $1 or more shall be
added to the tax or deducted from the refund that would otherwise be payable by or to the
corporation and paid into an account to be established to promote the celebration of the
state's sesquicentennial celebration. The commissioner of revenue shall, on the corporate
tax return, notify filers of their right to designate that a portion of their tax or refund
shall be paid into the sesquicentennial account. The sum of the amounts so designated
to be paid shall be credited to the account for use by the Minnesota Historical Society to
fund various sesquicentennial celebrations throughout the state including, but not limited
to, providing grants to cities and counties planning sesquicentennial celebrations. All
interest earned on money accrued, gifts to the program, contributions to the program, and
reimbursements of expenditures in the sesquicentennial account shall be credited to the
account by the commissioner of finance.
new text end
new text begin
The state pledges and agrees with all corporate contributors to the sesquicentennial
account to use the funds contributed solely for sesquicentennial celebrations throughout
the state and further agrees that it will not impose additional conditions or restrictions that
will limit or otherwise restrict the ability of the Minnesota Historical Society to use the
available funds for the celebration.
new text end