Bill Text: AZ SB1500 | 2012 | Fiftieth Legislature 2nd Regular | Introduced

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Bill Title: I didn't pay enough fund

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-01 - Referred to Senate FIN Committee [SB1500 Detail]

Download: Arizona-2012-SB1500-Introduced.html

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REFERENCE TITLE: I didn't pay enough fund

 

 

 

State of Arizona

Senate

Fiftieth Legislature

Second Regular Session

2012

 

 

SB 1500

 

Introduced by

Senator Burges

 

 

AN ACT

 

Amending Title 36, chapter 1, article 1, Arizona Revised Statutes, by adding section 36-122; repealing section 43-211, Arizona Revised Statutes; amending section 43-621, Arizona Revised Statutes; relating to individual income tax refunds.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 36, chapter 1, article 1, Arizona Revised Statutes, is amended by adding section 36-122, to read:

START_STATUTE36-122.  I didn't pay enough fund

A.  The I didn't pay enough fund is established consisting of monies received pursuant to section 43-621.

B.  The director shall administer the fund.  On notice from the director, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investments shall be credited to the fund.  Monies in the fund:

1.  Are exempt from the provisions of section 35-190 relating to lapsing of appropriations.

2.  Are continuously appropriated to the department for the purposes prescribed in subsection C of this section.

C.  The Department shall use the monies in the fund as follows:

1.  fifty per cent of the monies to provide medicine to mentally ill persons in this state.

2.  Fifty Per Cent of the monies to provide medicine to persons in this state who are under eighteen years of age and who are suffering from a chronic illness. END_STATUTE

Sec. 2.  Repeal

Section 43-211, Arizona Revised Statutes, is repealed.

Sec. 3.  Section 43-621, Arizona Revised Statutes, is amended to read:

START_STATUTE43-621.  Contribution to I didn't pay enough fund

A.  The department shall provide a space on the individual income tax return form in which the taxpayer may designate an amount of the taxpayer's refund as a voluntary contribution to the I didn't pay enough fund established by section 43‑211 36-122.

B.  After subtracting any setoff for debts pursuant to section 42-1122, the department shall subtract the designated amount from the refund due the taxpayer and transfer it to the department for deposit in the I didn't pay enough fund.

C.  The taxpayer may also donate any amount to the I didn't pay enough fund, in lieu of or in addition to the designated portion of the tax refund, by an appropriate indication on the return and by including that amount with the return. END_STATUTE

Sec. 4.  Effective date

This act is effective and applies retroactively to taxable years beginning from and after December 31, 2011.