GA HB960

Replaces the fixed 1% per month interest rate on delinquent tax payments and tax refunds with a variable annual rate tied to the federal bank prime loan rate plus 3%, determined each calendar year based on the Federal Reserve's statistical release H. 15

Restructures ad valorem tax nonpayment penalties from a single 10% penalty after 90 days to a graduated system: 5% after 120 days, with additional 5% penalties at subsequent 120-day intervals, capped at 20% of the original tax due

Requires the Department of Revenue to notify affected political subdivisions within 30 business days when a "refund claim of local significance" is filed — defined as a sales/use tax refund claim equal to or greater than 10% of the subdivision's average yearly aggregate sales and use tax distributions over the prior three years

Mandates automatic transfer of refund claims of local significance to the Georgia Tax Tribunal if they remain pending with the department for two years, where the tribunal will determine fault for the delay and assign interest liability or deny interest accordingly

Allows the House Ways and Means Committee and Senate Finance Committee to request aggregated, non-taxpayer-identifying information from the Department of Revenue regarding tax administration, and effective date is July 1, 2016