Del. Code 30, § 1184 : State Taxes — Personal Income Tax — Miscellaneous — U.S. Olympics account

  • Date:

Current through 2016 Legislative Session, Act 399

(a) There is hereby established, within the office of the State Treasurer, a U.S. Olympics account, for individuals who claim an overpayment of taxes to designate an amount to be deposited in such an account or individuals who have an income tax liability to designate an amount to be deposited to such an account, pursuant to subsections (b) and (c) of this section.
(b) The amount designated shall be deducted from the refund that would otherwise be payable to the individual and paid to the U.S. Olympic Committee, a congressionally chartered corporation under Public Law 95-606, 36 U.S.C. § 371 et seq. The Director of the Division of Revenue or the Director's designee shall forward the amounts designated to the office of the State Treasurer which shall deposit them to the credit of the U.S. Olympics account.
(c) An individual who has an income tax liability may, in addition to this obligation, include a donation to be deposited with the State Treasurer which shall be placed in the U.S. Olympics account.
(d) The Division of Revenue shall provide a space on the Delaware income tax return form or schedule whereby an individual may voluntarily designate a contribution to the U.S. Olympic Committee.
(e) The amount so designated by the individual on the income tax return form or schedule shall be deducted from the tax refund to which such individual is entitled, or the amount so designated may be added to the individual's payment of taxes due and shall not be included in the general revenue of the State.
(f) The Division of Revenue shall determine the total amount designated pursuant to this section and shall forward such amount to the U.S. Olympics account.
(g) No less than annually, the State Auditor shall draw a warrant payable to the U.S. Olympic Committee upon presentation of proper vouchers from the Division of Accounting. The amount of the warrant shall be the amount which has been designated by the contributing individuals as provided in subsections (b) and (c) of this section and verified by the Division of Revenue to be placed in the U.S. Olympics account by the State Treasurer or the State Treasurer's designee.
Del. C. § 1184
73 Del. Laws, c. 179, § 1.;
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