HB 614/FN (BR 1949) - H. Moberly, D. Sims, C. Belcher, L. Clark, J. Draud, Ji. Lee, L. Napier, D. Pasley, M. Treesh
AN ACT relating to revenue and taxation.
Amend KRS 131.400, 131.410, 131.420, 131.425, 131.440, and 131.445 to provide for a tax amnesty program for tax liabilities for taxable periods ending after December 31, 1987, but prior to December 31, 2001; create new sections of KRS Chapter 131 to create a financial institution match system to identify financial assets of delinquent taxpayers for the purpose of administering the collection of delinquent taxes owed the Commonwealth; create a new section of KRS Chapter 138 and amend KRS 139.185 and 141.340 to provide personal and individual liability provisions for tax liabilities of managers of a limited liability company and the partners of a registered limited liability company; provide that no person shall be personally and individually liable who had no authority in the management of the business or financial affairs of the limited liability company or registered limited liability partnership; provide that the provisions of the financial institution match system and the provisions concerning liability take effect January 1, 2003; provide that the personal and individual liability provisions for tax liabilities of managers of a limited liability company and the partners of a registered limited liability company apply retroactively to July 15, 1994.
HB 614 - AMENDMENTS
HCS/FN - Delete the provisions relating to the creation of a financial institution match system to identify financial assets of delinquent taxpayers; clarify no person shall be personally and individually liable who had no authority to collect, truthfully account for, or pay over taxes at the time the tax becomes or became due; provide that the $100 penalty for failure to file may be waived for reasonable cause.
SFA (1, R. Stivers) - Amend to provide that the officer liability provisions do not apply if a corporation, limited liability company, or registered limited liability partnership on an annual basis elects to be exempt from the provisions of KRS 138.224 by filing with the cabinet a financial instrument in an amount not to exceed two (2) months estimated liability, as calculated by the cabinet, or five thousand dollars ($5,000), which ever is greater, certifies by an electronic method acceptable by both the dealer and the cabinet no later than the fifteenth day of each month the amount of gasoline and special fuels tax due the Commonwealth by the twenty-fifth day of that month, and agrees to initiate an Automated Clearing House credit transaction to electronically transfer the amount of tax from the dealer's account to the Kentucky State Treasurer on the twenty-fifth day of that month; provide that if a dealer fails to certify the amount of tax collected or does not perform the electronic fund transfer as prescribed by this provision, the cabinet may immediately make demand of the financial instrument and revoke the license of the dealer notwithstanding the provisions of KRS 138.340 and the officer liability provisions shall apply.
Feb 7-introduced in House
Feb 8-to Appropriations and Revenue (H)
Feb 11-posting waived
Mar 5-reported favorably, 1st reading, to Calendar with Committee Substitute
Mar 6-2nd reading, to Rules
Mar 13-posted for passage in the Regular Orders of the Day for Thursday, March 14, 2002
Mar 14-3rd reading, passed 95-0 with Committee Substitute
Mar 15-received in Senate
Mar 19-to Appropriations and Revenue (S)
Mar 25-reported favorably, 1st reading, to Calendar
Mar 26-2nd reading, to Rules; floor amendment (1) filed
Mar 29-posted for passage in the Regular Orders of the Day for Friday, March 29, 2002; 3rd reading, passed 32-0 with floor amendment (1)
Apr 1-received in House; posted for passage for concurrence in Senate floor amendment (1)
Apr 15-House concurred in Senate floor amendment (1) ; passed 83-0; enrolled, signed by each presiding officer; delivered to Governor
Apr 24-signed by Governor (Acts ch. 366)