Senate Bill No. 298 Summary

• Eliminates the requirement that employees file tax returns within two years of the due date to receive refunds of state income taxes withheld.

• Extends the refund claim filing deadline from three years to ten years after the later of the return due date or payment date for taxable years beginning after December 31, 2013.

• Requires the Department of Revenue to maintain records of all money received and disbursed and copies of all returns filed for ten years instead of three years.

• Effective dates: July 1, 2013 for record retention requirements and January 1, 2014 for refund claim deadline changes.