Report: 'Tax amnesty expected'

From the Times-Picayune Briefing Book:

Tax amnesty expected

Delinquent taxpayers would have a two-month amnesty period to settle their overdue state tax bills with all the penalties and half the interest costs waived, under a bill backed by both the House and Senate. House Bill 720 is headed back to the House, which is expected to send it to a legislative compromise committee so lawmakers can decide how they want to spend the estimated $150 million or more that could be brought in during the amnesty period. Lawmakers are considering whether to use the money to plug budget holes and are questioning whether that’s possible, and Gov. Bobby Jindal’s administration is hoping to use a slice of the money for state debts related to Hurricanes Gustav and Ike. A similar tax amnesty program generated $193 million several years ago, said Sen. Rob Marionneaux, D-Livonia, who handled the proposal in the Senate. The tax amnesty period would fall sometime in the upcoming fiscal year that begins July 1, in a two-month period chosen by the state Department of Revenue, under the proposal by Rep. Jane Smith, R-Bossier City.

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