Bill Summary

by Ingoglia

Federal Taxation; Requiring the Chief Financial Officer to reimburse an owner of a small business for attorney fees and costs with funds from the Internal Revenue Service Civil Liability Trust Fund under certain conditions; authorizing taxpayers to bring actions in circuit court for an award of attorney fees and costs, actual damages, and punitive damages if the Internal Revenue Service is found to have committed certain violations; specifying that payment settlement entities are required to issue returns only to certain participating payees; requiring that reports submitted by financial institutions to the Financial Services Commission include certain information received from the Internal Revenue Service, etc. Effective Date: On the same date that SB 374 or similar legislation takes effect, if such legislation is adopted in the same legislative session or an extension thereof and becomes a law

» S Judiciary
   S Appropriations Committee on Agriculture, Environment, and General Government
   S Fiscal Policy