Legislature(1997 - 1998)
04/22/1997 01:48 PM House FIN
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* first hearing in first committee of referral
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+ teleconferenced
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SENATE BILL NO. 49 "An Act repealing certain filing statements and bonds for enforcement and collection of certain taxes and license fees; relating to service of process on nonresident taxpayers; and providing for an effective date." BOB BARTHOLOMEW, DEPUTY DIRECTOR, INCOME AND EXCISE AUDIT DIVISION, DEPARTMENT OF REVENUE testified in support of SB 49. He noted that the legislation would repeal regulations that require nonresident corporations to file a tax affidavit with the Department of Revenue and obtain a bond to secure potential tax liabilities. The program was established in 1955. He noted that the Department of Revenue has not claimed anything against the bond. He noted that there has been no opposition to the legislation. He observed that the legislation will help offset budget reductions to the Department of Revenue. He noted that it takes approximately 800 hours of staff time and three positions to enforce the regulations. He referred to the Department of Revenue's fiscal note. The Department is requesting that the fiscal note be zero to allow the resources to be reallocated to compliance. Representative Mulder pointed out that the State does receive revenues from the program. He observed that the fiscal note states that new revenues from increased compliance would offset the lose of interest income. Mr. Bartholomew reiterated that the Department raises a significant amount of money through compliance. Co-Chair Hanley MOVED to report SB 49 out of Committee with individual recommendations and with the accompanying fiscal notes. There being NO OBJECTION, it was so ordered. 2 SB 49 was reported out of Committee with a "do pass" recommendation and with a zero fiscal note by the Department of Revenue, and with a zero fiscal note by the Department of Commerce and Economic Development, both dated 1/15/97.
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