|
SB 547 - Under current law, any transportation development district having gross revenues of less than $5,000 in a fiscal year for which an annual financial statement was not timely filed to the State Auditor is not subject to a fine. This act provides that any political subdivision that has gross revenues of less than $5,000 or that has not levied or collected sales or use taxes in the fiscal year for which the annual financial statement was not timely filed shall not be subject to a fine. Additionally, if failure to timely submit the annual financial statement is the result of fraud or other illegal conduct by an employee or officer of the political subdivision, the failure shall not be subject to a fine if the statement is filed within 30 days of discovery of the fraud or illegal conduct. If the political subdivision has an outstanding balance or fines at the time it files its first annual financial statement after January 1, 2021, the Director of Revenue shall make a one-time downward adjustment to such outstanding balance in an amount that reduces the outstanding balance by 90%. If the Director of Revenue determines a fine is uncollectible, the Director shall have the authority to make a one-time downward adjustment to any outstanding penalty. The Director of Revenue shall initiate the process to disincorporate a political subdivision if such political subdivision has an outstanding balance for fines or penalties and fails to file an annual financial statement as provided in the act. A resident of a political subdivision may file an affidavit with the Director of Revenue with information regarding the political subdivision's failure to report. The question of whether a political subdivision may be subject to disincorporation shall be submitted to the voters of the political subdivision as provided in the act. Upon the affirmative vote of a majority of voters in the political subdivision, the Director of Revenue shall file an action to disincorporate the political subdivision in the circuit court with jurisdiction over the political subdivision. The circuit court shall enforce such orders and carry out remedies as provided in the act. Additionally, the Attorney General shall have the authority to file an action in a court of competent jurisdiction against any political subdivision that fails to comply with this act. This act is identical to HB 1854 (2020). MARY GRACE BRUNTRAGER
|
