House Bill 1098

AN ACT TO AUTHORIZE RESIDENT INDIVIDUAL INCOME TAXPAYERS TO DESIGNATE ANY PORTION OF THEIR TAX REFUND FOR DEPOSIT INTO THE MISSISSIPPI DISASTER HOUSING FUND; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) Each resident individual taxpayer who files a Mississippi income tax return and who will receive a tax refund from the Department of Revenue may designate that a contribution be made to the Mississippi Disaster Housing Fund by marking the appropriate box printed on the return pursuant to this subsection. In the case of a joint return, each spouse may designate that a portion of the refund shall be paid to such fund.

The Department of Revenue shall print on the Mississippi income tax form for residents a space for designating the contribution in substantially the following form:

"MISSISSIPPI DISASTER HOUSING FUND"

"I wish to contribute ( ) $1 ( ) $5 ( ) $10 ( ) Other $____ of my TAX REFUND TO THE MISSISSIPPI DISASTER HOUSING FUND."

(2) The Department of Revenue shall explain in the instructions accompanying the individual income tax form the purposes for which the contributions authorized herein shall be used.

(3) This section shall apply to taxable years beginning on or after January 1, 2013.

(4) The Department of Revenue shall determine annually the total amount designated by individuals to be paid to the fund, along with all interest earned thereon, and shall report such amount to the State Treasurer who shall pay such amount into the

Mississippi Disaster Housing Fund.

SECTION 2. This act shall take effect and be in force from and after its passage.