HCS/HB 1202 - This act prohibits retailers from obtaining refunds of sales taxes without crediting the original purchasers.

The restriction will not apply if the person seeking the refund shows to the director's satisfaction that he or she originally paid the tax and that it was not collected from the purchasers or if the amount of refund or credit request does not exceed $1,000 in the aggregate over any five-year period.

The act also allows a retailer to submit a plan to the Department of Revenue to provide a process for refund that generally distributes any refund that cannot be returned to the original purchaser through a fixed value coupon to future customers.

All additional revenues generated from the substitute will be deposited in the State School Moneys Trust Fund.
JEFF CRAVER