Refund of state taxes. Limit on interest added or awarded

# (a)

For purposes of making payment of any refund as provided in this title on account of any tax, or penalty or interest thereon, paid to the state, the Comptroller, upon certification by the Commissioner of Revenue Services, is authorized to draw on the Treasurer in the amount of such refund and the Treasurer shall pay the amount thereof from the fund to which such tax, penalty or interest is credited.

# (b)

Notwithstanding any provision of law, interest added to a refund of tax issued by the Commissioner of Revenue Services for a tax period shall not exceed five million dollars and no court may award interest in excess of five million dollars in any tax appeal in connection with a claim for refund of tax for a tax period. (P.A. 85-356, S. 1, 9; P.A. 22-117, S. 4.) History: P.A. 22-117 designated existing provisions as Subsec. (a) and added Subsec. (b) re limit on interest added or awarded to refund of tax, effective May 27, 2022. See Sec. 12-39w re prohibition and time limit applicable to refund claims. (Return to ChapterTable of Contents) (Return toList of Chapters) (Return toList of Titles)

Source: view the official text

In this chapter (36 sections)

Full table of contents →