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IN HB1683
Bill
Status
1/24/2019
Primary Sponsor
Dan Forestal
Click for details
AI Summary
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Authorizes taxpayers to pay state taxes, special assessments, penalties, interest, and other tax liabilities using virtual currencies approved by the Department of State Revenue or Department of Local Government Finance
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Requires the Office of Management and Budget (OMB) to prescribe criteria for determining the exchange rate between U.S. dollars and approved virtual currencies at the time of payment
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County treasurers and the Department of State Revenue must convert virtual currency payments to U.S. dollar values using OMB-prescribed exchange rates
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Adds virtual currency as an approved payment method alongside cash, checks, bank drafts, money orders, credit/debit cards, and electronic fund transfers
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Effective dates: July 1, 2019 for local tax provisions and January 1, 2020 for state tax provisions
Legislative Description
Payment of taxes with virtual currencies. Allows a person to pay taxes using an approved virtual currency. Makes a correction.
Last Action
First reading: referred to Committee on Ways and Means
1/24/2019