Am. Sub. S.B. 194

128th General Assembly

(As Passed by the General Assembly)

 

Sens.     Kearney, D. Miller, Fedor, Goodman, Jones, Morano, Turner, Schiavoni, Sawyer, Buehrer, Cafaro, Carey, Coughlin, Gibbs, Gillmor, Grendell, Harris, Hughes, Strahorn, Wagoner, Wilson, Patton, Seitz

Reps.     Amstutz, Balderson, Batchelder, Beck, Belcher, Blair, Bolon, Boose, Boyd, Brown, Bubp, Carney, Chandler, Coley, Combs, DeBose, Derickson, Dodd, Domenick, Driehaus, Evans, Foley, Gardner, Garland, Garrison, Gerberry, Goyal, Grossman, Hackett, Harris, Harwood, Heard, Hottinger, Koziura, Letson, Luckie, Lundy, Maag, Mallory, Martin, McClain, McGregor, Moran, Morgan, Oelslager, Otterman, Patten, Pillich, Reece, Ruhl, Sayre, Skindell, Snitchler, Stautberg, Stewart, Uecker, Weddington, B. Williams, S. Williams, Winburn, Yuko, Zehringer

Effective date:  August 19, 2010

ACT SUMMARY

·         Permits an individual taxpayer who files an income tax return electronically to direct the state to deposit the taxpayer's refund into a checking, savings, or individual retirement account.

CONTENT AND OPERATION

The act authorizes an individual taxpayer, when the taxpayer files an annual income tax return electronically, to instruct the Department of Taxation to cause any refund of overpaid taxes owed to the taxpayer to be deposited directly into a checking or savings account or an individual retirement account or individual retirement annuity, as designated by the taxpayer.  (R.C. 5747.08(L).)

According to the 2009 income tax filing instructions, taxpayers due a refund may instruct the Department to directly deposit the refund to a checking or savings account, and may do so only if they file electronically or by telephone.

The act authorizes the Tax Commissioner to adopt rules to administer the direct deposit provision and other income tax return provisions.  (R.C. 5747.08(M).)

HISTORY

ACTION

DATE

 

 

Introduced

10-27-09

Reported, S. Finance & Financial Institutions

01-27-10

Passed Senate (30-0)

02-17-10

Reported, H. Ways & Means

03-18-10

Passed House (97-0)

04-14-10

Senate concurred in House amendments (33-0)

05-11-10

 

 

 

10-sb194-128.docx/kl