16-807. Political parties trust fund
A. A political parties trust fund is established with the state treasurer as
trustee and administrator. Monies in the fund consist of contributions from individuals
pursuant to section 43-612 plus interest accruing to the fund.
B. Except as provided in subsections C and D of this section, on March 31, June 30,
September 30 and December 31 each year the state treasurer shall distribute the monies in
the fund to the state committees of political parties according to the party designated
on the contribution pursuant to section 43-612.
C. Before December 31 each year the department of revenue shall determine its costs
in administering the political party income tax refund checkoff under section 43-612 and
this section and notify the state treasurer of that amount. The state treasurer shall
deduct, for deposit in the state general fund, this amount from monies otherwise
distributable to political parties as follows:
1. Costs specifically attributable to initially listing a political party on the
return form shall be deducted from the amount otherwise distributable to that political
party.
2. All remaining administrative costs shall be divided and deducted equally from
the amounts distributable to all political parties.
D. If an amount deducted under subsection C of this section for administrative
costs exceeds the amount distributable to a political party, the excess deduction shall
be carried forward as a liability of that party until paid. If the political party no
longer qualifies to be listed on the income tax return form, any amount remaining unpaid
under this subsection shall be included in the administrative costs deducted under
subsection C, paragraph 2 of this section in the first year the party is not listed.
E. Monies contributed or accruing to the fund are not state revenues for purposes
of any constitutional limitation or prohibition and are not subject to lapsing under
section 35-190.
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