§ 5862c - Vermont campaign fund add-on - Vermont Statutes

§ 5862c. Vermont campaign fund add-on

(a) For taxable years beginning on and after January 1, 1998, all returns filed by individuals shall include, on a form prescribed by the commissioner of taxes, an opportunity to designate funds to the Vermont campaign fund established under section 2856 of Title 17.

(b) Amounts so designated shall be deducted from refunds due to, or overpayments made by, the designating taxpayers. All amounts so designated and deducted shall be deposited in an account by the commissioner of taxes for payment to the Vermont campaign fund. If at any time after the payment of amounts so designated to the account it is determined that the taxpayer was not entitled to all or any part of the amount so designated, the commissioner may assess, and the account shall then pay to the commissioner, the amount received, together with interest at the rate prescribed by section 3108 of this title, from the date the payment was made until the date of repayment.

(c) The commissioner of taxes shall explain to taxpayers the purposes of the account and how to contribute to it. The state treasurer shall make available to taxpayers the annual income and expense report of the Vermont campaign fund, and the commissioner of taxes shall provide notice in the instructions for the state individual income tax return that the report is available at the state treasurer's office.

(d) If amounts paid with respect to a return are insufficient to cover both the amount owed on the return under this chapter and the amount designated by the taxpayer as a contribution to the Vermont campaign fund, the payment shall first be applied to the amount owed on the return under this chapter and the balance, if any, shall be deposited in the Vermont campaign fund.

(e) Nothing in this section shall be construed to require the commissioner to collect any amount designated as a contribution to the Vermont campaign fund. (Added 1997, No. 64, § 16, eff. Jan. 1, 1998.)