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| SPONSOR: | Williams | DATE TYPED: | 01/23/01 | HB | 138 | ||
| SHORT TITLE: | Change Deadline for Delinquent Tax Payment | SB | |||||
| ANALYST: | Williams | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY01 | FY02 | FY01 | FY02 | ||
| NFI | |||||
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates/Relates to Appropriation in The General Appropriation Act
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
| No Significant Fiscal Impact - See Narrative | ||||
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
LFC Files
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of Bill
The bill would change the due date for delinquent property taxes and associated penalties, interest and costs (or related installment agreement) to 5:00 p.m. of the day prior to the date of sale, rather than the day of the sale. These requirements are also made subject to provisions that: 1) if the last day to meet the requirements falls on a weekend or holiday, the requirement falls on the next working day and 2) Mailed transactions are acceptable if the postmark reflects the required date. The bill would be effective on July 1, 2001.
FISCAL IMPLICATIONS
Significant fiscal impacts are not expected.
ADMINISTRATIVE IMPLICATIONS
TRD notes the provisions could improve efficiency of the property tax system.
TECHNICAL ISSUES
TRD notes the Department may not be aware of the situation in which taxes are paid by mail and postmarked on a day prior to sale, but the payment has not yet been received by TRD. TRD proposes requiring receipt of payment by the deadline through regulation.
POSSIBLE QUESTIONS
1. Under "Technical Issues", TRD notes "As a practical matter, the Department would probably continue to accept payment on the date of sale in many cases. It would not be required to do so, however." Who would determine this outcome and on what criteria?
2. Does the legislation appropriately address alternative forms of payment such as payment via overnight courier and potentially Internet payment applications?
AW/njw