Senate Bill 11-184 Summary

• Establishes a tax amnesty program from October 1, 2011 through November 15, 2011, allowing taxpayers to report and pay tax liabilities for returns due before December 31, 2010, with one-half interest waived and no penalties imposed.

• Creates a Tax Amnesty Cash Fund to receive income and sales and use tax payments made under the amnesty program, with appropriations to the Department of Revenue for administration and first two Tax Profile and Expenditure Reports.

• Requires biennial Tax Profile and Expenditure Reports (starting January 1, 2013) detailing all state tax expenditures, including revenue impact, statutory authority, purpose, and income distribution effects.

• Mandates that any new or extended tax expenditure enacted after January 1, 2012 must include a legislative declaration stating its intended purpose.

• Appropriates $483,895 cash funds (0.8 FTE) to the Department of Revenue and $20,720 to the Office of Information Technology for program implementation.