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2001 SESSION
HB 2844 Income tax; refund of surplus revenues.
Introduced by: John M. O'Bannon, III | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Income tax; refund of surplus revenues. Requires the refund of surplus revenues when they exceed the amount required to be deposited in the Revenue Stabilization Fund by at least $50 million. The Department of Taxation shall make refunds based on each taxpayer's pro rata share of excess revenues collected in the calendar year in which the fiscal year surplus is determined. The taxpayer must have filed an income tax return for such calendar year.
FULL TEXT
HISTORY
- 01/19/01 House: Presented & ordered printed 011775870
- 01/19/01 House: Referred to Committee on Finance
- 01/25/01 House: Assigned to Finance sub-committee: 1
- 01/31/01 House: Passed by indefinitely in Finance (21-Y 2-N)