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ID H0037
Bill
Status
1/25/2011
Primary Sponsor
Shirley Ringo
Click for details
AI Summary
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Removes the $50,000 monetary threshold requirement for applying minimum procedural standards to tax settlement and closing agreements, making the standards applicable to all cases delegated to an individual commissioner.
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Requires at least two additional commissioners (three total) to be present for final review of settlement or closing agreements and mandates all commissioners sign the agreement to make it binding.
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Requires a representative from the Attorney General's office and tax commission staff including a tax policy specialist and auditor or auditor supervisor from the originating division to be present during final settlement review.
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Mandates the tax policy specialist or deputy attorney general prepare a written summary for commissioners explaining settlement terms and including all comments and recommendations from audit staff before final review.
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Requires the tax commission to submit an annual report to the governor and legislature by March 1 each year published on the tax commission website, listing taxpayer names, amounts in dispute, settlement amounts, future tax consequences, and reasons why each settlement serves Idaho's interests, while protecting confidential business information and national defense matters.
Legislative Description
Amends existing law to remove the monetary requirement on applicability of the state on adjusted or compromised cases, to require increased involvement of tax commissioners and audit staff in finalizing settlement and closing agreements, to require certain written detail in settlement and closing agreements and to require certain written detail in annual reports to the Legislature.
TAX COMMISSION
Last Action
to Rev/Tax
1/26/2011