I move that House Bill 1882 be amended to read as follows:
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
"SECTION 1. IC
6-8.1-10-1
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2002]: 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 1882 as printed February 6, 2001.)