summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to equalize the Department of Revenue interest rates. Revenue.
AI Summary
This bill aims to equalize the interest rates charged by the Department of Revenue (DOR) on unpaid taxes. The bill amends the existing law to set the interest rate at the federal short-term rate, as determined under the Internal Revenue Code, plus 2 percentage points, calculated as simple interest. This change ensures that the DOR's interest rate is consistent, regardless of whether the taxpayer owes additional taxes or the DOR owes a refund to the taxpayer.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied S1604 (on 05/10/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H1614 |
| Bill | https://malegislature.gov/Bills/190/H1614.pdf |
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