HB108 Summary

• Department of Revenue shall design an optional non-itemized short form business personal property tax return for taxpayers with total acquisition costs of $10,000 or less, effective October 1, 2014.

• Taxpayers filing the short form agree to a tax liability based on a valuation of $10,000 and must have previously filed an itemized return showing assets of $10,000 or less to be eligible.

• Department of Revenue must develop and maintain the Optional Personal Property Assessment Link (OPPAL) online filing system by September 30, 2016, allowing electronic filing of business personal property tax returns at no cost to taxpayers or local jurisdictions.

• An advisory committee consisting of eight members from local tax offices, county government, and business organizations shall oversee OPPAL development and provide recommendations to the Revenue Commissioner.

• Counties with existing electronic filing requirements under local law are exempt from this act; counties may continue offering alternative electronic filing systems or enforce mandatory electronic filing under local statute.