La. R.S. 47:120.62 — Income tax checkoff; Student Tuition Assistance and Revenue Trust Program deposits

A. Subject to the establishment of a procedure as provided in Subsection B of this Section, every individual who files an individual income tax return for any tax year beginning on and after January 1, 2001, and who is entitled to a refund may designate on his return that all or any portion of the total amount of the refund to which he is entitled shall be deposited into a Student Tuition Assistance and Revenue Trust Program account of which he is the owner, as provided for by R.S. 17:3091 et seq., in lieu of that amount being paid to him as a refund, in which case the refund shall be reduced by the amount so designated. The designation shall be made at the time of the filing of the tax return and shall be made on the income tax return form as prescribed by the secretary of the Department of Revenue.
B. The secretary of the Department of Revenue and the Louisiana Tuition Trust Authority shall jointly establish a procedure and a process for the efficient deposit and crediting of such refunds. Such procedure and process shall be adopted as rules of the Louisiana Tuition Trust Authority pursuant to the Administrative Procedure Act.