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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:
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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


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


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
First Reading House Rules and Executive Nominations
Re-referred Ways and Means
Hearing 3/20 at 1:00 p.m.
Senate Action
No Action

Bill indexed under the following Subjects:

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

Bill affects the following Statute:

Tax - General
( 13-604 )


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