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ID H0524
Bill
Status
2/19/2020
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
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State Tax Commission must not file or must withdraw its priority tax claim under 11 U.S.C. 507(a)(8)(A) in bankruptcy court when a taxpayer is convicted of obtaining funds illegally through theft, embezzlement, or robbery
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Requirements for withdrawal include: unpaid tax stems from unreported illegal earnings, taxpayer is convicted with conviction not appealed, taxpayer files bankruptcy in Idaho federal court, and crime victims file creditor claims in the bankruptcy estate
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Priority claim must be withdrawn only if the bankruptcy estate lacks sufficient funds to pay both the State Tax Commission's priority claims and full restitution to crime victims as determined by court or restitution order
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Act applies retroactively to July 1, 2019, and takes effect immediately upon passage and approval with an emergency declaration
Legislative Description
Amends existing law to provide that the State Tax Commission either shall not file or shall withdraw a priority tax claim in certain bankruptcy estates of a convicted criminal so that victims of crime may receive the proceeds instead.
TAX COMMISSION
Last Action
Reported Printed and Referred to Revenue & Taxation
2/20/2020