AN ACT RELATING TO TAXATION -- STATE TAX OFFICIALS

Summary

The law limits interest on overdue state taxes to 12% per year and restricts the tax administrator’s audit authority to three years, or up to seven years for fraud, with an overall ten‑year ceiling. It also waives interest and penalties on certain forgiven PPP loans if the tax is paid by March 31 2022. All provisions become effective on January 1 2027.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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