Central Appropriations (995)
465. | Revenue Administration Services (73200) | sum suf | sum suf
| | | |
| | Designated Refunds for Taxes and Fees (73215) | sum suf | sum suf
| | | |
| Fund Sources: | General | sum suf | sum suf
|
Authority: Discretionary Inclusion.
A. There is hereby appropriated from the affected funds in the
state treasury, for refunds of taxes and fees, and the interest thereon, in
accordance with law, a sum sufficient. There is hereby established a
special fund in the state treasury to be known as the Refund Suspense Fund,
hereinafter referred to as the Fund. The Tax Commissioner is hereby
authorized to contract with nongovernmental entities for review of requests for
refunds of taxes to enhance, expand and/or modify the administration of the
refund review program, and to perform analysis of refund processing
techniques. The amount of any refund identified by the nongovernmental
entity as potentially erroneous shall be deposited to the Fund pending review
of the refund request. Amounts in the Fund may be used to pay refunds
subsequently determined to be valid, to pay the contracted nongovernmental
entity for its services, to perform oversight of their operations, to upgrade
necessary refund processing systems and data interfaces to facilitate the
contractor’s work, to offset any administrative or other costs related to any
contracts authorized under this provision, and to retain experts to perform
analysis of refund processing techniques. Any balance in the fund
remaining after such payments, or provision therefore, shall be deposited into
the appropriate general, nongeneral, or local fund.
B. There is hereby appropriated from the affected funds in the
state treasury for, (1) refunds of previously paid taxes imposed by the
Commonwealth at 100 percent of face value up to the amount of the coalfield
employment enhancement tax credit authorized by § 58.1-439.2, Code of Virginia,
(2) refunds of any remaining credit at 90 percent of face value for credits
earned in taxable years beginning before January 1, 2002, and 85 percent of
face value for credits earned in taxable years beginning on and after January
1, 2002, and (3) payment of the remaining 10 or 15 percent credit to the
Coalfields Economic Development Authority, a sum sufficient.
C. Pursuant to § 2.2-1825, Code of Virginia, and
notwithstanding § 59.1-479 et seq., Code of Virginia, beginning January 1,
2013, the State Comptroller shall issue individual income tax refunds only
through debit cards, direct deposits, or other electronic means unless the Tax
Commissioner determines that a check is more appropriate for a transaction or
class of transactions.
previous item |
next item |
new search |
table of contents | home |