PRINTER'S NO. 2717
No. 2001 Session of 1986
INTRODUCED BY FARGO, SEVENTY, SAURMAN, CARLSON, MERRY,
MACKOWSKI, G. M. SNYDER, WOGAN, BROUJOS, GODSHALL, JOHNSON,
KOSINSKI, BOWSER, BOOK, HALUSKA, MORRIS, NOYE, CORNELL,
TRELLO, PETRARCA, NAHILL, E. Z. TAYLOR, HERSHEY, DISTLER,
GEIST, AFFLERBACH, DORR, HERMAN, CIVERA, BLACK, CIMINI,
FLICK, McVERRY, FOX, SEMMEL AND ITKIN, JANUARY 21, 1986
REFERRED TO COMMITTEE ON FINANCE, JANUARY 21, 1986
AN ACT
1 Amending the act of April 9, 1929 (P.L.343, No.176), entitled,
2 as amended, "An act relating to the finances of the State
3 government; providing for the settlement, assessment,
4 collection, and lien of taxes, bonus, and all other accounts
5 due the Commonwealth, the collection and recovery of fees and
6 other money or property due or belonging to the Commonwealth,
7 or any agency thereof, including escheated property and the
8 proceeds of its sale, the custody and disbursement or other
9 disposition of funds and securities belonging to or in the
10 possession of the Commonwealth, and the settlement of claims
11 against the Commonwealth, the resettlement of accounts and
12 appeals to the courts, refunds of moneys erroneously paid to
13 the Commonwealth, auditing the accounts of the Commonwealth
14 and all agencies thereof, of all public officers collecting
15 moneys payable to the Commonwealth, or any agency thereof,
16 and all receipts of appropriations from the Commonwealth,
17 authorizing the Commonwealth to issue tax anticipation notes
18 to defray current expenses, implementing the provisions of
19 section 7(a) of Article VIII of the Constitution of
20 Pennsylvania authorizing and restricting the incurring of
21 certain debt and imposing penalties; affecting every
22 department, board, commission, and officer of the State
23 government, every political subdivision of the State, and
24 certain officers of such subdivisions, every person,
25 association, and corporation required to pay, assess, or
26 collect taxes, or to make returns or reports under the laws
27 imposing taxes for State purposes, or to pay license fees or
28 other moneys to the Commonwealth, or any agency thereof,
29 every State depository and every debtor or creditor of the
30 Commonwealth," further providing for the payment of interest
1 on overpaid tax.
2 The General Assembly of the Commonwealth of Pennsylvania
3 hereby enacts as follows:
4 Section 1. Section 806.1(a)(5) of the act of April 9, 1929
5 (P.L.343, No.176), known as The Fiscal Code, amended December 9,
6 1982 (P.L.1057, No.248), is amended to read:
7 Section 806.1. Interest on Overpayments.--(a) "Overpayment"
8 shall mean any payment of tax which is determined in the manner
9 provided by law not to be legally due. Simple interest shall be
10 allowed and paid by the Commonwealth upon any overpayment to the
11 Commonwealth of any tax. The interest shall be allowed and paid
12 for the period during which the Commonwealth retained the
13 overpayment, beginning with the date of the overpayment, except
14 that:
15 * * *
16 (5) If any overpayment of tax is refunded or credited within
17 [six (6) months] seventy-five (75) days after the last date
18 prescribed for filing the final return or report of the tax
19 (determined without regard to any extension of time for filing)
20 or, in case the final return or report is filed after the last
21 day, and is refunded or credited within [six (6) months]
22 seventy-five (75) days after the date the final return or report
23 is filed, no interest shall be allowed on the overpayment. For
24 the purpose of this clause (5), a final return or report shall
25 be deemed to have been filed only if, when it is received by the
26 Department of Revenue, it has been submitted on a permitted
27 form, containing (i) the taxpayer's name, address and
28 identifying number and the required signature; and (ii)
29 sufficient required information, either on the permitted form or
30 attachments thereto, to permit the verification of tax liability
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1 shown on the return.
2 * * *
3 Section 2. This act shall take effect in 60 days.
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