BILL ANALYSIS AND FISCAL IMPACT REPORT	Page 1 of  2

DATE:  February 25, 2001	Submitted by: TAXATION AND REVENUE DEPT.
	T. GLENN ELLINGTON, SECRETARY
BILL NUMBER: SJR - 24

SPONSOR: Senator Jennings

BILL SHORT TITLE: Constitutional Amendment – Allow TRD to Compromise Interest on Tax Deficiencies

DESCRIPTION: subject to voter approval, the joint resolution would conform the constitution to current practice in regard to the Department’s ability to compromise interest on tax deficiencies. In addition, however, the resolution would specifically grant to the legislature the right to control such compromises by law. The standard to be applied in all cases is that the collectibility of the interest amount is in doubt.

EFFECTIVE DATE: not stated – 90 days after adjournment (June 17). The constitutional amendment would be put to the voters at the next general election, scheduled for November 2002. 

FISCAL IMPACT: none. This provision is unlikely to enable any compromises that the Department believes are unwise or unwarranted. Conversely, the provision is unlikely to disapprove of any compromises proposed by the Department.

ADMINISTRATIVE IMPACT: none. This provision is unlikely to enable any compromises that the Department believes are unwise or unwarranted. Conversely, the provision is unlikely to disapprove of any compromises proposed by the Department.

OTHER IMPACTS AND ISSUES:
1.	This proposal would not eliminate the over $600M in accumulated accounts receivable carried on the Department’s books.