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.