(A) Each individual taxpayer required to file a state income tax return who desires to contribute to the Veterans' Trust Fund of South Carolina established pursuant to Chapter 21 of Title 25 may designate the contribution on the appropriate state income tax form. The contribution may not increase or decrease the income tax liability of the taxpayer and may be made by reducing the income tax refunds of the taxpayer by the amount designated or by accepting additional payment from the taxpayer by the amount designated, whichever is appropriate.
(B) All South Carolina individual income tax return forms must contain a designation for a contribution to the Veterans' Trust Fund of South Carolina. Contributions of other amounts may be made directly to the Veterans' Trust Fund. The instructions accompanying income tax forms must contain a description of the purposes for which the Veterans' Trust Fund was established and the use of the monies from income tax contribution.
(C) Taxpayers who are entitled to refunds shall have the refunds reduced by the amount designated by the taxpayer. The department shall determine annually the total amount so designated, plus the amount received in excess payments so designated and shall report the total amount to the State Treasurer. The department shall transfer the total amount to the Veterans' Trust Fund at the earliest possible time.
(D) The incremental cost of administration of this contribution must be paid by the Veterans' Trust Fund from amounts received pursuant to this section.
(E) For purposes of this section, the South Carolina Department of Revenue is not subject to provisions of the South Carolina Solicitation of Charitable Funds Act as contained in Chapter 56, Title 33.