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HB 1362 - Interest Rate on Tax Deficiencies and Refunds
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Tracking Level: No Position
Sponsor: Delegate Schuh
Last Action: 3/6/2012 - H Hearing 3/20 at 1:00 p.m.
House Committee:
Assigned To:
AndreaNext Bill
Taxes and RevenuesNext Bill

Staff Analysis of the Legislation


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-HB 1362
2012 Regular Session

HOUSE BILL 1362

File Code: Taxes - Miscellaneous
Sponsored By:
Delegate Schuh
Entitled:
Interest Rate on Tax Deficiencies and Refunds

Synopsis:

Altering the calculation of the monthly interest rate on tax deficiencies and refunds to one-twelfth of an annual interest rate equal to 3 percentage points above the average prime rate of interest quoted by commercial banks to large businesses during the State's previous fiscal year; providing that the interest rate may not be less than a specified rate for specified calendar years; repealing a requirement that the Comptroller annually set the interest rate; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
House Action
2/21
First Reading House Rules and Executive Nominations
3/5
Re-referred Ways and Means
3/6
Hearing 3/20 at 1:00 p.m.
Senate Action
No Action

Bill indexed under the following Subjects:

Comptroller
Interest
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Bill affects the following Statute:

Tax - General
( 13-604 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered