Sunset Private Letter Ruling And Information Letter

Sunset Process - Senate Finance Committee. The bill implements the recommendations of the department of regulatory agencies, as contained in the department's sunset review of the issuance of private letter rulings (rulings) and information letters (letters) by the department of revenue, as follows:

• Continues the issuance of rulings and letters by the department of revenue and removes the issuance of rulings and letters from the sunset review process;
• Allows the department of revenue to extend the ninety-day deadline to issue a ruling if the taxpayer agrees to the extension; and
• Allows the department of revenue to issue letters and rulings for any issue related to a tax or fee administered by the department of revenue.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)