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Introduced Version House Bill 2839 History

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hb2839 intr
H. B. 2839


(By Mr. Speaker, Mr. Kiss)

[Introduced March 2, 2005; referred to the

Committee on Finance.]





A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-10A-3a, relating to creating a special revenue fund for the operation of the West Virginia Office of Tax Appeals.

Be it enacted by the Legislature of West Virginia:

That the Code of West Virginia, 1931, as amended, be amended and reenacted by adding thereto a new section, designated §11-10A-3a, to read as follows:

ARTICLE 10A. WEST VIRGINIA OFFICE OF TAX APPEALS.

§11-10A-3a. Special Revenue Fund for the West Virginia Office of Tax Appeals; appropriation; disbursements; cost of administering article; Tax Commissioner's written notification to chief administrative law judge as to amount of special Revenue Fund.

(a) For the operation of the West Virginia Office of Tax Appeals, there is hereby created a special revenue fund in the State Treasury, designated the "West Virginia Office of Tax Appeals Fund," which is an interest-bearing account and may be invested in accordance with the provisions of article six, chapter twelve of this code, with the interest income a proper credit to the Fund.
(b) The Fund shall consist of moneys appropriated by the Legislature and all funds received, on and after the first day of July, two thousand five, from the additional, one and one-half percent, annual rate of interest on state tax underpayments, established under subsection (a), section seventeen, article 10, chapter 11 of this code, as amended.
(c) Disbursements from the fund shall be made in accordance with
an approved expenditure schedule as provided by article two, chapter five-a of this code, and shall be made under the direct supervision of the chief administrative law judge. The West Virginia Office of Tax Appeals shall maintain accurate records reflecting the cost of operations.
(d) By no later than the first day of August of each year, the Tax
Commissioner shall notify the chief administrative law judge, in writing, of the amount of the special revenue fund generated, during the immediately preceding fiscal year ending the thirtieth day of June, by the additional rate of interest on state tax underpayments established under subsection (a), section 17, article 10, chapter 11 of this code.



NOTE: The purpose of this bill is to create a special revenue account for the operation of the West Virginia Office of Tax Appeals, funded by the additional rate of interest on state tax underpayments established by §11-10-17(a) of the Code of West Virginia.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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