Senator Hopes To Expedite Refunds For Guam Taxpayers HAGÅTÑA, Guam (MV Guam Edition, September 17, 2013) — About 6,200 people who filed their tax returns by April 8 will get their tax refunds this week if Guam’s Legislature goes into session to pass Bill 187, according to a release from the office of Gov. Eddie Calvo. The bill was introduced by Sen. Chris Duenas and authorizes the governor to use $9 million in Section 30 money to pay tax refunds. Calvo will release another $6 million in the income tax reserve for a total of $15 million in payments. All of the money is currently available, according to the release. The bill was introduced Thursday following the revelation that the government has received $15.45 million in Section 30 funds it had not expected. Bill 187 was one of four bills introduced by Republican senators that day. Bill 184 was introduced by Sen. Aline Yamashita and would allocate $3 million for public-private partnerships for school facility renovations and maintenance. Bill 185, introduced by Sen. Michael Limtiaco, would appropriate $449,119 for police vehicles, and the maintenance, operation and repair of the units. Bill 186 was introduced by Sen. Tommy Morrison to appropriate $3 million to the Guam Police Department, the Guam Fire Department and the Department of Corrections for operational expenses – including overtime obligations owed the agencies’ personnel. As of Sept. 9, a balance of $27 million remains for tax refunds for all error-free returns filed this year, including refunds for prior-year returns that were filed recently, according to the release. Fast-track Earlier yesterday, Sen. Duenas announced that he will be pressing the leadership of the Legislature to fast-track Bill 187. "The faster we pass the bill, the sooner we can get this money back into the hands of our people," Duenas said, adding the Legislature had expedited hearings in the past. "I’m sure we will all agree that paying out refunds on time is good for our people and good for our economy. The funds will go to our families, who will then spend this money at local businesses. And the money will stimulate the local economy," Duenas said. The senator added he has been working with his colleagues and the administration on policies that will stimulate the local economy and help working families on Guam. "I have been a proponent on fully funding tax refunds since entering office, and have worked with my colleagues and the governor on this," Duenas said, adding that for the first time in decades, tax refunds have been paid out at regular intervals. "I’m looking forward to working with my colleagues and fast-tracking this legislation," Duenas said. In its release, the Governor’s Office stressed that the purpose of the Duenas bill is to pay refunds even faster: "What Republican senators want to do is give the governor the authority to pay refunds even faster than the schedule the administration is on. That’s the purpose of Bill 187. It gives the governor the green light to use Section 30 cash – which is already in the bank – to pay more refunds. Whatever is collected into the income tax reserve fund after using the Section 30 cash will pay the balance of refunds faster, then will accumulate for next year’s refunds." The release also criticized "some Democrat senators" who are allegedly opposing the payment of tax refunds. "Unfortunately, the effort to pay tax refunds again is meeting opposition from some Democrat senators. They are arguing that they ‘appropriated’ enough money in the fiscal year 2014 budget for tax refunds. But number one, the provision for tax refunds in the FY2014 budget is not an appropriation, nor is it a guarantee of payment. Actual cash and political will guarantees the payment of tax refunds. And number two, the provision in the FY2014 budget is for tax year 2013. The Republican senators are trying to speed up the payment of this year’s tax year 2012 and prior refunds. The Democrats are comparing apples to oranges," the release stated.
Posted on: Fri, 20 Sep 2013 09:26:16 +0000
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