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OK SB1663

Bill

Official Source

Status

Introduced

2/6/2012

Primary Sponsor

Greg Childers

Click for details

Origin

Senate

2012 Regular Session

AI Summary

SB1663 Summary

  • Amends 68 O.S. 2011, Section 217 to modify the timeframe for income tax refunds before interest accrues

  • Changes the deadline for non-electronic refunds from 90 days to 60 days after the tax return is filed (for returns filed after January 1, 2010)

  • Electronic refunds remain at 20 days; interest accrues at 1.25% per month if refunds are not paid within the specified timeframe

  • Effective date is November 1, 2012

Legislative Description

Income tax; modifying time period for payment of refunds before interest is due. Effective date.

Revenue and Taxation

Last Action

Second Reading referred to Finance

2/7/2012

Committee Referrals

Finance2/7/2012

Full Bill Text

No bill text available