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    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[
HOUSE MOTION ____

]

MR. SPEAKER:

    I move that House Bill 1003 be amended to read as follows:

    Page 33, between lines 11 and 12, begin a new paragraph and insert:
    "SECTION 32. IC  6-8.1-10-1 IS AMENDED TO READ AS FOLLOWS: Sec. 1. (a) If a person fails to file a return for any of the listed taxes, fails to pay the full amount of tax shown on his return by the due date for the return or the payment, or incurs a deficiency upon a determination by the department, the person is subject to interest on the nonpayment.
    (b) The interest for a failure described in subsection (a) is the adjusted rate established by the commissioner under subsection (c), from the due date for payment. The interest applies to:
        (1) the full amount of the unpaid tax due if the person failed to file the return;
        (2) the amount of the tax that is not paid, if the person filed the return but failed to pay the full amount of tax shown on the return; or
        (3) the amount of the deficiency.
    (c) The commissioner shall establish an adjusted rate of interest for a failure described in subsection (a) and for an excess tax payment on or before November 1 of each year. For purposes of subsection (b), the adjusted rate of interest shall be the percentage rounded to the nearest whole number that equals two (2) percentage points above the average investment yield on state money for the state's previous fiscal year, excluding pension fund investments, as published in the auditor of state's comprehensive annual financial report. For purposes of

IC  6-8.1-9-2 (c), the adjusted rate of interest for an excess tax payment is the percentage rounded to the nearest whole number that equals the average investment yield on state money for the state's previous fiscal year, excluding pension fund investments, as published in the auditor of state's comprehensive annual financial report. The adjusted rates of interest established under this subsection shall take effect on January 1 of the immediately succeeding year.
    (d) For purposes of this section, the filing of a substantially blank or unsigned return does not constitute a return.
    (e) Except as provided by IC  6-8.1-5-2 (e)(2), the department may not waive the interest imposed under this section.
    (f) Subsections (a) through (c) do not apply to a motor carrier fuel tax return.
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1003 as printed February 16, 2001.)
    

________________________________________

Representative KRUSE


RH 100301/DI to
2001