Bill Text: MA S1377 | 2009-2010 | 186th General Court | Introduced

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Bill Title: Equalize the Department of Revenue interest rates

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 9/30 at 10:00 AM in Hearing Room B2 [S1377 Detail]

Download: Massachusetts-2009-S1377-Introduced.html

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The Commonwealth of Massachusetts

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PRESENTED BY:

Susan C. Tucker

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
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��������������� The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:

An Act relative to equalizing the Department of Revenue interest rates

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PETITION OF:

 

Name:	District/Address:
Susan C. Tucker	Second Essex and Middlesex
Bruce E. Tarr	First Essex and Middlesex
Bradley H. Jones, Jr.	20th Middlesex
Mary E. Grant	6th Essex
Richard T. Moore	Worcester and Norfolk

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. S01694 OF 2007-2008.]

The Commonwealth of Massachusetts

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In the Year Two Thousand and Nine

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An Act relative to equalizing the Department of Revenue interest rates.

��������������� Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

����������� SECTION 1.  Paragraph (a) of Section 32 of Chapter 62C of the General Laws, as appearing in the 2006 Official Edition, and most recently amended by section 196 of Chapter 26 of the Acts of 2003, is hereby amended by striking the second sentence and replacing it with the following sentence:- If any amount of tax is not paid to the commissioner on or before its statutory due date, there shall be added to the tax interest at the rate of the federal short-term rate determined under section 6621(b) of the Internal Revenue Code, as amended and in effect for the taxable year, plus 2 percentage points, computed as simple interest.