Bill > S0656

This bill amends the Rhode Island Tax Amnesty Act to provide taxpayers with a temporary opportunity to resolve delinquent tax obligations with reduced financial penalties. Specifically, the bill authorizes the tax administrator to establish a one-week tax amnesty period each fiscal year during which individuals with unpaid taxes can pay their full tax balance and receive a complete waiver of interest and penalties. Additionally, the bill includes a provision that allows individuals whose driver's licenses were suspended due to tax non-payment to have their licenses fully reinstated upon completing the full tax payment. The bill also modifies the existing interest calculation method, reducing the standard interest rate by 25% for taxes paid during the amnesty period. This approach aims to encourage tax compliance by offering a more affordable path for taxpayers to clear their outstanding tax debts and restore their driving privileges, while providing the state with an opportunity to collect previously unpaid revenue.

Budget and Finance

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