Bill > SB1420

This bill, by adding Section 6593.7 to the Revenue and Taxation Code, allows the State Board of Equalization (the "board," meaning its members meeting as a public body) to waive some or all of the interest owed on a late tax payment if the board determines that extraordinary circumstances, such as death, serious illness, a declared emergency, or criminal misconduct by another party, prevented a timely payment, and it would be unfair to charge the interest. To qualify for this relief, the person must have also been granted relief from any penalties, paid the overdue amount or committed to paying it within 30 days of a final board decision, requested an oral hearing, and submitted a written declaration detailing the reasons for the late payment and any other required information, replacing the previous requirement of a sworn statement. The total relief granted to all individuals under this provision is capped at $25,000 per 12-month period, though this limit does not apply to relief granted under a different section (Section 6593). The bill also clarifies that "payment" includes taxes, tax prepayments, and amounts collected for the state, and that any relief granted can be revoked if the person fails to comply with the payment terms, and knowingly providing false information in the declaration can result in a civil penalty of $1,000 to $25,000.