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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