Maryland 2022 Regular Session

Maryland Senate Bill SB477 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	LAWRENCE J. HOGAN, JR., Governor Ch. 481
2	1
3		-	– 1 –
4		-	Chapter 481
5		-	(Senate Bill 477)
6	2
7		-	AN ACT concerning
	3	+	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
	4	+	[Brackets] indicate matter deleted from existing law.
	5	+	Underlining indicates amendments to bill.
	6	+	Strike out indicates matter stricken from the bill by amendment or deleted from the law by
	7	+	amendment.
	8	+	Italics indicate opposite chamber/conference committee amendments.
	9	+	sb0477
8	10
9		-	Office of the Comptroller – Legal Division and Private Letter Ruling Procedures
	11	+	SENATE BILL 477
	12	+	Q7 (2lr0769)
	13	+	ENROLLED BILL
	14	+	— Budget and Taxation/Ways and Means —
	15	+	Introduced by Senators Hester and Rosapepe
10	16
11		-	FOR the purpose of establishing a Legal Division in the Office of the Comptroller to provide
12		-	certain guidance to taxpayers and perform other duties relating to private letter
13		-	rulings as assigned by the Comptroller; requiring the Comptroller to issue certain
14		-	private letter rulings on the request of a person, except under certain circumstances;
15		-	authorizing the Comptroller to deny a private letter ruling request under certain
16		-	circumstances and establishing procedures for the denial; authorizing a person to
17		-	withdraw a private letter ruling request under certain circumstances; establishing,
18		-	subject to certain exceptions, the circumstances under which a private letter ruling
19		-	binds the Comptroller or may be relied on by a person; requiring the Comptroller to
20		-	publish certain private letter rulings on the Comptroller’s website in a certain
21		-	manner under certain circumstances; and generally relating to the Office of the
22		-	Comptroller and private letter rulings.
	17	+	Read and Examined by Proofreaders:
23	18
24		-	BY adding to
25		-	Article – Tax – General
26		-	Section 2–102.1; and 13–1A–01 through 13–1A–05 to be under the new subtitle
27		-	“Subtitle 1A. Private Letter Rulings”
28		-	Annotated Code of Maryland
29		-	(2016 Replacement Volume and 2021 Supplement)
	19	+	_______________________________________________
	20	+	Proofreader.
	21	+	_______________________________________________
	22	+	Proofreader.
30	23
31		-	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
32		-	That the Laws of Maryland read as follows:
	24	+	Sealed with the Great Seal and presented to the Governor, for his approval this
33	25
34		-	~~Article – Tax – General~~
	26	+	_______ day of _______________ at _________________ _______ o’clock, ________M.
35	27
36		-	2–102.1.
	28	+	______________________________________________
	29	+	President.
37	30
38		-	~~(A) THERE IS A LEGAL DIVISION IN THE OFFICE OF THE COMPTROLLER .~~
	31	+	CHAPTER ______
39	32
40		-	~~(B) (~~1~~) THE HEAD OF THE LEGAL DIVISION IS THE DIRECTOR.~~
	33	+	AN ACT concerning 1
41	34
42		-	(2) SUBJECT TO THE SUPERV ISION OF THE COMPTROLLER , THE
43		-	DIRECTOR HAS ADMINIST RATIVE CONTROL OF TH E LEGAL DIVISION.
	35	+	Office of the Comptroller – Legal Division and Private Letter Ruling Procedures 2
44	36
45		-	(C) (1) THE DIRECTOR SHALL APPOIN T OTHER OFFICERS AND
46		-	EMPLOYEES OF THE LEGAL DIVISION IN ACCORDANC E WITH THE PROVISION S OF
47		-	THE STATE PERSONNEL AND PENSIONS ARTICLE, INCLUDING A MINIMUM OF SIX
48		-	ATTORNEYS. Ch. 481 2022 LAWS OF MARYLAND
	37	+	FOR the purpose of establishing a Legal Division in the Office of the Comptroller to provide 3
	38	+	certain guidance to taxpayers and perform other duties relating to private letter 4
	39	+	rulings as assigned by the Comptroller; requiring the Comptroller to issue certain 5
	40	+	private letter rulings on the request of a person, except under certain circumstances; 6
	41	+	authorizing the Comptroller to deny a private letter ruling request under certain 7
	42	+	circumstances and establishing procedures for the denial; authorizing a person to 8
	43	+	withdraw a private letter ruling request under certain circumstances; establishing, 9
	44	+	subject to certain exceptions, the circumstances under which a private letter ruling 10
	45	+	binds the Comptroller or may be relied on by a person; requiring the Comptroller to 11
	46	+	publish certain private letter rulings on the Comptroller’s website in a certain 12
	47	+	manner under certain circumstances; and generally relating to the Office of the 13
	48	+	Comptroller and private letter rulings. 14
	49	+	2 SENATE BILL 477
49	50
50		-	– 2 –
51	51
52		-	(2) OFFICERS AND EMPLOYEE S OF THE LEGAL DIVISION ARE
53		-	ENTITLED TO A SALARY AS PROVIDED IN THE STATE BUDGET .
	52	+	BY adding to 1
	53	+	Article – Tax – General 2
	54	+	Section 2–102.1; and 13–1A–01 through 13–1A–05 to be under the new subtitle 3
	55	+	“Subtitle 1A. Private Letter Rulings” 4
	56	+	Annotated Code of Maryland 5
	57	+	(2016 Replacement Volume and 2021 Supplement) 6
54	58
55		-	(D) THE LEGAL DIVISION SHALL:
	59	+	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 7
	60	+	That the Laws of Maryland read as follows: 8
56	61
57		-	(1) PROVIDE EXPANDED AND DETAILED TAX GUIDANC E TO
58		-	TAXPAYERS, INCLUDING PRIVATE LE TTER RULINGS; AND
	62	+	Article – Tax – General 9
59	63
60		-	(2) PERFORM OTHER RELATE D DUTIES AS ASSIGNED BY THE
61		-	COMPTROLLER IN ACCORDANCE WITH TITLE 13, SUBTITLE 1A OF THIS ARTICLE .
	64	+	2–102.1. 10
62	65
63		-	~~SUBTITLE 1A~~. ~~PRIVATE LETTER RULINGS.~~
	66	+	(A) THERE IS A LEGAL DIVISION IN THE OFFICE OF THE COMPTROLLER . 11
64	67
65		-	~~13–1A–01~~.
	68	+	(B) (1) THE HEAD OF THE LEGAL DIVISION IS THE DIRECTOR. 12
66	69
67		-	IN THIS SUBTITLE , “PRIVATE LETTER RULIN G” MEANS A WRITTEN
68		-	DETERMINATION ISSUED BY THE COMPTROLLER ON THE AP PLICATION OF TAX LAW S
69		-	AND REGULATIONS UN DER THIS ARTICLE TO A SPECIFIC SET OF FA CTS THAT IS
70		-	INTENDED TO APPLY ON LY TO THAT SPECIFIC SET OF FACTS.
	70	+	(2) SUBJECT TO THE SUPERV ISION OF THE COMPTROLLER , THE 13
	71	+	DIRECTOR HAS ADMINISTRATIVE CONTR OL OF THE LEGAL DIVISION. 14
71	72
72		-	13–1A–02.
	73	+	(C) (1) THE DIRECTOR SHALL APPOIN T OTHER OFFICERS AND 15
	74	+	EMPLOYEES OF THE LEGAL DIVISION IN ACCORDANC E WITH THE PROVISION S OF 16
	75	+	THE STATE PERSONNEL AND PENSIONS ARTICLE, INCLUDING A MINIMUM OF SIX 17
	76	+	ATTORNEYS. 18
73	77
74		-	(A) (1) EXCEPT AS PROVIDED IN SUBSECTION (C) OF THIS SECTION, THE
75		-	COMPTROLLER SHALL ISS UE A PRIVATE LETTER RULING ON THE WRITTE N REQUEST
76		-	OF A PERSON AS SOON AS PRACTICABLE AFTER THE DATE ON WHICH TH E
77		-	COMPTROLLER RECEIVED THE WRITTEN REQUEST .
	78	+	(2) OFFICERS AND EMPLOYEE S OF THE LEGAL DIVISION ARE 19
	79	+	ENTITLED TO A SALARY AS PROVIDED IN THE STATE BUDGET . 20
78	80
79		-	(2) (I) A PERSON REQUESTING A PRIVATE LETTER RULIN G SHALL
80		-	INCLUDE IN THE WRITT EN REQUEST A STATEME NT AS TO WHETHER THE PERSON IS
81		-	THE SUBJECT OF AN O NGOING TAXATION MATT ER, INCLUDING AN AUDIT , A CLAIM
82		-	FOR REFUND , A TAX PROTEST , OR AN APPEAL TO THE TAX COURT OR ANY OTHER
83		-	COURT WITH JURISDICT ION OVER THE MATTER .
	81	+	(D) THE LEGAL DIVISION SHALL: 21
84	82
85		-	(II) IF THE PERSON IS THE SUBJECT OF AN ONGOIN G TAXATION
86		-	MATTER, THE STATEMENT REQUIR ED UNDER THIS PARAGRAPH SHALL INCLUDE ANY
87		-	RELEVANT CASE NUMBER S OR OTHER IDENTIFYI NG INFORMATION .
	83	+	(1) PROVIDE EXPANDED AND DETAILED TAX GUIDANC E TO 22
	84	+	TAXPAYERS, INCLUDING PRIVATE LE TTER RULINGS; AND 23
88	85
89		-	(B) (1) THE COMPTROLLER , AS APPROPRIATE , MAY REQUEST
90		-	ADDITIONAL INFORMATI ON FROM THE PERSON R EQUESTING THE PRIVAT E LETTER
91		-	RULING.
92		-	LAWRENCE J. HOGAN, JR., Governor Ch. 481
	86	+	(2) PERFORM O THER RELATED DUTIES AS ASSIGNED BY THE 24
	87	+	COMPTROLLER IN ACCORD ANCE WITH TITLE 13, SUBTITLE 1A OF THIS ARTICLE . 25
93	88
94		-	– 3 –
95		-	(2) THE PERSON SHALL SUBMIT THE INFORMATI ON TO THE
96		-	COMPTROLLER WITHIN 30 DAYS AFTER THE DATE ON WHICH THE PERSON RECEIVES
97		-	THE COMPTROLLER ’S REQUEST UNDER THIS SUBSECTION.
	89	+	SUBTITLE 1A. PRIVATE LETTER RULINGS. 26
98	90
99		-	(C) (1) THE COMPTROLLER MAY DENY A REQUEST FOR A PRIV ATE
100		-	LETTER RULING FOR GO OD CAUSE, INCLUDING:
	91	+	13–1A–01. 27
101	92
102		-	(I) THE ISSUE IS THE SUB JECT OF EXISTING GUI DANCE TO
103		-	TAXPAYERS PUBLISHED BY THE COMPTROLLER ;
104		-
105		-	(II) THE PERSON DID NOT T IMELY SUBMIT THE ADD ITIONAL
106		-	INFORMATION REQUESTE D BY THE COMPTROLLER IN ACCORD ANCE WITH
107		-	SUBSECTION (B) OF THIS SECTION;
108		-
109		-	(III) THE ISSUE IDENTIFIED IN THE REQUEST :
110		-
111		-	1. IS UNDER EXTENSIVE S TUDY OR REVIEW ; OR
112		-
113		-	2. IS CURRENTLY BEING C ONSIDERED IN A RULEM AKING
114		-	PROCEDURE , CONTESTED CASE , OR ANY OTHER AGENCY OR JUDICIAL PROCEEDI NG
115		-	THAT MAY RESOLVE THE ISSUE;
116		-
117		-	(IV) THE REQUEST INV OLVES A HYPOTHETICAL SITUATION OR
118		-	ALTERNATIVE PLANS ;
119		-
120		-	(V) THE TRANSACTION FOR WHICH THE PRIVATE LE TTER
121		-	RULING IS REQUESTED IS DESIGNED TO AVOID TAXATION;
122		-
123		-	(VI) THE FACTS OR ISSUES IDENTIFIED IN THE RE QUEST ARE
124		-	UNCLEAR, OVERBROAD , INSUFFICIENT, OR OTHERWISE INAPPROPRIATE AS A BASIS
125		-	ON WHICH TO ISSUE A PRIVATE LETTER RULIN G; OR
126		-
127		-	(VII) THE REQUEST IS TO DE TERMINE WHETHER A ST ATUTE IS
128		-	CONSTITUTIONAL UNDER THE MARYLAND CONSTITUTION OR THE UNITED STATES
129		-	CONSTITUTION;
130		-
131		-	(VIII) THE ISSUE IS CLEARLY AND ADEQUATELY ADDRESSED BY
132		-	STATUTE, REGULATION, OR COURT DECISION ; OR
133		-
134		-	(IX) THE ISSUE INVOLVES T HE TAX CONSEQUENCE O F ANY
135		-	PROPOSED BUT NOT YET ENACTED FEDERAL , STATE, OR LOCAL LEGISLATION .
136		-	Ch. 481 2022 LAWS OF MARYLAND
137		-
138		-	– 4 –
139		-	(2) IF THE COMPTROLLER DENIES A REQUEST FOR A PRIVAT E
140		-	LETTER RUL ING UNDER THIS SECTI ON, THE COMPTROLLER SHALL NOT IFY THE
141		-	PERSON IN WRITING :
142		-
143		-	(I) OF THE REASONS FOR T HE DENIAL AND WHY TH OSE
144		-	REASONS CONSTITUTE G OOD CAUSE; AND
145		-
146		-	(II) WITHIN 60 DAYS AFTER THE DATE ON WHICH THE REQUEST
147		-	WAS SUBMITTED TO THE COMPTROLLER .
148		-
149		-	(D) A PERSON MAY WITHDRAW , IN WRITING, THE REQUEST FOR A PR IVATE
150		-	LETTER RULING AT ANY TIME BEFORE THE ISSU ANCE OF THE PRIVATE LETTER
151		-	RULING UNDER THIS SE CTION.
152		-
153		-	13–1A–03.
154		-
155		-	(A) A PRIVATE LETTER RULIN G ISSUED UNDER THIS SUBTITLE MAY BE
156		-	RELIED ON SOLELY AND PROSPECTIVELY BY THE PERSON FOR WHOM THE PRIVATE
157		-	LETTER RULING IS REQ UESTED UNLESS THERE IS AN INTERVENING ST ATUTORY OR
158		-	REGULATORY CHANGE OR THE PRIVATE LETTER R ULING IS REVOKED BY THE
159		-	COMPTROLLER .
160		-
161		-	(B) A PRIVATE LETTER RULIN G IS BINDING ON THE COMPTROLLER FOR A
162		-	PERIOD OF 3 7 YEARS UNLESS :
163		-
164		-	(1) THERE HAS BEEN A MIS STATEMENT OR OMISSIO N OF MATERIAL
165		-	FACTS IN THE REQUEST ;
166		-
167		-	(2) THE ACTUAL FACTS ARE DETERMINED TO BE MAT ERIALLY
168		-	DIFFERENT FROM THE F ACTS ON WHICH THE PR IVATE LETTER RULING WAS BASED;
169		-
170		-	(3) THERE HAS BEEN A CHA NGE IN LAW OR A FINA L DECISION IN A
171		-	CONTESTED CASE THAT THE COMPTROLLER DETERMINE S AFFECTS THE VALIDI TY
172		-	OF THE PRIVATE LETTE R RULING; OR
173		-
174		-	(4) THE COMPTROLL ER HAS MODIFIED OR R EVOKED THE PRIVATE
175		-	LETTER RULING .
176		-
177		-	(C) AN UNFAVORABLE PRIVAT E LETTER RULING DOES NOT BIND THE
178		-	PERSON FOR WHOM THE PRIVATE LETTER RULIN G WAS REQUESTED .
179		-
180		-	(D) THE MODIFICATION OR R EVOCATION OF A PRIVA TE LETTER RULING BY
181		-	THE COMPTROLLER M AY NOT BE APPLIED RE TROACTIVELY TO TAXAB LE PERIODS LAWRENCE J. HOGAN, JR., Governor Ch. 481
182		-
183		-	– 5 –
184		-	OR TAXABLE YEARS BEF ORE THE EFFECTIVE DA TE OF THE MODIFICATI ON OR
185		-	REVOCATION .
186		-
187		-	13–1A–04.
188		-
189		-	(A) SUBJECT TO SUBSECTION (B) OF THIS SECTION , THE COMPTROLLER
190		-	SHALL PUBLISH PERIOD ICALLY ON THE COMPTROLLER ’S WEBSITE COPIES OF
191		-	PRIVATE LETTER RULIN GS THAT THE COMPTROLLER DETERMINE S TO BE OF
192		-	INTEREST TO THE GENE RAL PUBLIC.
193		-
194		-	(B) THE COMPTROLLER SHALL RED ACT PERSONALLY IDENTIFIA BLE
195		-	INFORMATION IN A PUB LISHED PRIVATE LETTE R RULING IN ORDER TO ENSURE THE
196		-	CONFIDENTIALITY OF A NY PERSON THAT IS TH E SUBJECT OF THE PRI VATE LETTER
197		-	RULING.
198		-
199		-	13–1A–05.
200		-
201		-	THE COMPTROLLER SHALL ADO PT REGULATIONS NECES SARY TO CARRY OUT
202		-	THE PROVISIONS OF THIS S UBTITLE, INCLUDING REGULATION S THAT ESTABLISH :
203		-
204		-	(1) THE PROCEDURE , FORM, AND TIME PERIODS FOR SUBMITTING A
205		-	REQUEST FOR A PRIVAT E LETTER RULING ;
206		-
207		-	(2) THE TERMS AND CONDIT IONS UNDER WHICH A P RIVATE LETTER
208		-	RULING MAY BE REVOKE D OR MODIFIED;
209		-
210		-	(3) THE LIMITATIONS ON T HE APPLICABILITY OF A PRIVATE LETTER
211		-	RULING TO SPECIFIC P ERSONS, TRANSACTIONS , FACTUAL CIRCUMSTANCE S, AND
212		-	TIME PERIODS;
213		-
214		-	(4) THE CIRCUMSTANCES UN DER WHICH A REQUEST FOR A PRIVATE
215		-	LETTER RULING MAY BE DENIED BY THE COMPTROLLER FOR GOOD C AUSE; AND
216		-
217		-	(5) GUIDELINES FOR THE P UBLICATION OF PRIVAT E LETTER
218		-	RULINGS.
219		-
220		-	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July
221		-	1, 2022.
	93	+	IN THIS SUBTITLE , “PRIVATE LETTER RULIN G” MEANS A WRITTEN 28
	94	+	DETERMINATION ISSUED BY THE COMPTROLLER ON THE AP PLICATION OF TAX LAW S 29
	95	+	AND REGULATIONS UNDE R THIS ARTICLE TO A SPECIFIC SET OF FACT S THAT IS 30
	96	+	INTENDED TO APPLY ON LY TO THAT SPECIFIC SET OF FACTS. 31 SENATE BILL 477 3
222	97
223	98
224	99
225		-	Approved by the Governor, May 16, 2022.
	100	+	13–1A–02. 1
	101	+
	102	+	(A) (1) EXCEPT AS PROVIDED IN SUBSECTION (C) OF THIS SECTION, THE 2
	103	+	COMPTROLLE R SHALL ISSUE A PRIV ATE LETTER RULING ON THE WRITTEN REQUEST 3
	104	+	OF A PERSON AS SOON AS PRACTICABLE AFTER THE DATE ON WHICH TH E 4
	105	+	COMPTROLLER RECEIVED THE WRITTEN REQUEST . 5
	106	+
	107	+	(2) (I) A PERSON REQUESTING A PRIVATE LETTER RULIN G SHALL 6
	108	+	INCLUDE IN THE WRITT EN REQUEST A STATEME NT AS TO WHETHER THE PERSON IS 7
	109	+	THE SUBJECT OF AN ON GOING TAXATION MATTE R, INCLUDING AN AUDIT , A CLAIM 8
	110	+	FOR REFUND , A TAX PROTEST , OR AN APPEAL TO THE TAX COURT OR ANY OTHER 9
	111	+	COURT WITH JURISDICT ION OVER THE MATTER . 10
	112	+
	113	+	(II) IF THE PERSON IS THE SUBJECT OF AN ONGOIN G TAXATION 11
	114	+	MATTER, THE STATEMENT REQUIR ED UNDER THIS PARAGR APH SHALL INCLUDE AN Y 12
	115	+	RELEVANT CASE NUMBER S OR OTHER IDENTIFYI NG INFORMATION . 13
	116	+
	117	+	(B) (1) THE COMPTROLLER , AS APPROPRIATE , MAY REQUEST 14
	118	+	ADDITIONAL INFORMATI ON FROM THE PERSON R EQUESTING THE PRIVAT E LETTER 15
	119	+	RULING. 16
	120	+
	121	+	(2) THE PERSON SHALL SUBM IT THE INFORMATION T O THE 17
	122	+	COMPTROLLER WITHIN 30 DAYS AFTER THE DATE ON WHICH THE PERSON RECEIVES 18
	123	+	THE COMPTROLL ER’S REQUEST UNDER THIS SUBSECTION. 19
	124	+
	125	+	(C) (1) THE COMPTROLLER MAY DENY A REQUEST FOR A PRIV ATE 20
	126	+	LETTER RULING FOR GO OD CAUSE, INCLUDING: 21
	127	+
	128	+	(I) THE ISSUE IS THE SUB JECT OF EXISTING GUI DANCE TO 22
	129	+	TAXPAYERS PUBLISHED BY THE COMPTROLLER ; 23
	130	+
	131	+	(II) THE PERSON DID NOT TIMELY SUBMIT TH E ADDITIONAL 24
	132	+	INFORMATION REQUESTE D BY THE COMPTROLLER IN ACCORD ANCE WITH 25
	133	+	SUBSECTION (B) OF THIS SECTION; 26
	134	+
	135	+	(III) THE ISSUE IDENTIFIED IN THE REQUEST : 27
	136	+
	137	+	1. IS UNDER EXTENSIVE S TUDY OR REVIEW ; OR 28
	138	+
	139	+	2. IS CURRENTLY BEING C ONSIDERED IN A RULEMAKING 29
	140	+	PROCEDURE , CONTESTED CASE , OR ANY OTHER AGENCY OR JUDICIAL PROCEEDI NG 30
	141	+	THAT MAY RESOLVE THE ISSUE; 31
	142	+	4 SENATE BILL 477
	143	+
	144	+
	145	+	(IV) THE REQUEST INVOLVES A HYPOTHETICAL SITUA TION OR 1
	146	+	ALTERNATIVE PLANS ; 2
	147	+
	148	+	(V) THE TRANSACTION FOR WHICH THE PRIVATE LE TTER 3
	149	+	RULING IS REQUESTED IS DESIGNE D TO AVOID TAXATION ; 4
	150	+
	151	+	(VI) THE FACTS OR ISSUES IDENTIFIED IN THE RE QUEST ARE 5
	152	+	UNCLEAR, OVERBROAD , INSUFFICIENT, OR OTHERWISE INAPPRO PRIATE AS A BASIS 6
	153	+	ON WHICH TO ISSUE A PRIVATE LETTER RULIN G; OR 7
	154	+
	155	+	(VII) THE REQUEST IS TO DE TERMINE WHETHER A STATUTE IS 8
	156	+	CONSTITUTIONAL UNDER THE MARYLAND CONSTITUTION OR THE UNITED STATES 9
	157	+	CONSTITUTION; 10
	158	+
	159	+	(VIII) THE ISSUE IS CLEARLY AND ADEQUATELY ADDRE SSED BY 11
	160	+	STATUTE, REGULATION, OR COURT DECISION ; OR 12
	161	+
	162	+	(IX) THE ISSUE INVOLVES T HE TAX CONSEQUENCE O F ANY 13
	163	+	PROPOSED BUT NOT YET ENACTED FEDERAL , STATE, OR LOCAL LEGISLATION . 14
	164	+
	165	+	(2) IF THE COMPTROLLER DENIES A REQUEST FOR A PRIVAT E 15
	166	+	LETTER RULING UNDER THIS SECTION, THE COMPTROLLER SHALL NOT IFY THE 16
	167	+	PERSON IN WRITING : 17
	168	+
	169	+	(I) OF THE REASONS FOR T HE DENIAL AND WHY THOSE 18
	170	+	REASONS CONSTITUTE G OOD CAUSE; AND 19
	171	+
	172	+	(II) WITHIN 60 DAYS AFTER THE DATE ON WHICH THE REQUEST 20
	173	+	WAS SUBMITTED TO THE COMPTROLLER . 21
	174	+
	175	+	(D) A PERSON MAY WITHDRAW , IN WRITING, THE REQUEST FOR A PR IVATE 22
	176	+	LETTER RULING AT ANY TIME BEFORE THE ISSU ANCE OF THE PRIVATE LETTER 23
	177	+	RULING UNDER THIS SE CTION. 24
	178	+
	179	+	13–1A–03. 25
	180	+
	181	+	(A) A PRIVATE LETTER RULIN G ISSUED UNDER THIS SUBTITLE MAY BE 26
	182	+	RELIED ON SOLELY AND PROSPECTIVELY BY THE PERSON FOR WHOM THE PRIVATE 27
	183	+	LETTER RULING IS REQ UESTED UNLESS THERE IS AN INTERVENING ST ATUTORY OR 28
	184	+	REGULATORY CHANGE OR THE PRIVATE LETTER R ULING IS REVOKED BY THE 29
	185	+	COMPTROLLER . 30
	186	+
	187	+	(B) A PRIVATE LETTER RULIN G IS BINDING ON THE COMPTROLLER FOR A 31
	188	+	PERIOD OF 3 7 YEARS UNLESS : 32 SENATE BILL 477 5
	189	+
	190	+
	191	+
	192	+	(1) THERE HAS BEEN A MIS STATEMENT OR OMISSIO N OF MATERIAL 1
	193	+	FACTS IN THE REQ UEST; 2
	194	+
	195	+	(2) THE ACTUAL FACTS ARE DETERMINED TO BE MAT ERIALLY 3
	196	+	DIFFERENT FROM THE F ACTS ON WHICH THE PR IVATE LETTER RULING WAS BASED; 4
	197	+
	198	+	(3) THERE HAS BEEN A CHA NGE IN LAW OR A FINA L DECISION IN A 5
	199	+	CONTESTED CASE THAT THE COMPTROLLER DETERMINE S AFFECTS THE VALIDITY 6
	200	+	OF THE PRIVATE LETTE R RULING; OR 7
	201	+
	202	+	(4) THE COMPTROLLER HAS MODIF IED OR REVOKED THE P RIVATE 8
	203	+	LETTER RULING . 9
	204	+
	205	+	(C) AN UNFAVORABLE PRIVAT E LETTER RULING DOES NOT BIND THE 10
	206	+	PERSON FOR WHOM THE PRIVATE LETTER RULIN G WAS REQUESTED . 11
	207	+
	208	+	(D) THE MODIFICATION OR R EVOCATION OF A PRIVA TE LETTER RULING BY 12
	209	+	THE COMPTROLLER MAY NOT B E APPLIED RETROACTIV ELY TO TAXABLE PERIO DS 13
	210	+	OR TAXABLE YEARS BEF ORE THE EFFECTIVE DA TE OF THE MODIFICATI ON OR 14
	211	+	REVOCATION . 15
	212	+
	213	+	13–1A–04. 16
	214	+
	215	+	(A) SUBJECT TO SUBSECTION (B) OF THIS SECTION, THE COMPTROLLER 17
	216	+	SHALL PUBLISH PERIOD ICALLY ON THE COMPTROLLER ’S WEBSITE COPIES OF 18
	217	+	PRIVATE LETTER RULIN GS THAT THE COMPTROLLER DETERMINE S TO BE OF 19
	218	+	INTEREST TO THE GENE RAL PUBLIC. 20
	219	+
	220	+	(B) THE COMPTROLLER SHALL RED ACT PERSONALLY IDENT IFIABLE 21
	221	+	INFORMATION IN A PUBLISHED PRIVATE LETTER RULIN G IN ORDER TO ENSURE THE 22
	222	+	CONFIDENTIALITY OF A NY PERSON THAT IS TH E SUBJECT OF THE PRI VATE LETTER 23
	223	+	RULING. 24
	224	+
	225	+	13–1A–05. 25
	226	+
	227	+	THE COMPTROLLER SHALL ADO PT REGULATIONS NECES SARY TO CARRY OUT 26
	228	+	THE PROVISIONS OF TH IS SUBTITLE, INCLUDING REGULATIONS THAT ESTABLISH : 27
	229	+
	230	+	(1) THE PROCEDURE , FORM, AND TIME PERIODS FOR SUBMITTING A 28
	231	+	REQUEST FOR A PRIVAT E LETTER RULING ; 29
	232	+
	233	+	(2) THE TERMS AND CONDIT IONS UNDER WHICH A P RIVATE LETTER 30
	234	+	RULING MAY BE REVOKE D OR MODIFIED; 31 6 SENATE BILL 477
	235	+
	236	+
	237	+
	238	+	(3) THE LIMITATIONS O N THE APPLICABILITY OF A PRIVATE LETTER 1
	239	+	RULING TO SPECIFIC P ERSONS, TRANSACTIONS , FACTUAL CIRCUMSTANCE S, AND 2
	240	+	TIME PERIODS; 3
	241	+
	242	+	(4) THE CIRCUMSTANCES UN DER WHICH A REQUEST FOR A PRIVATE 4
	243	+	LETTER RULING MAY BE DENIED BY THE COMPTROLLER FOR GOOD CAUSE; AND 5
	244	+
	245	+	(5) GUIDELINES FOR THE P UBLICATION OF PRIVAT E LETTER 6
	246	+	RULINGS. 7
	247	+
	248	+	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 8
	249	+	1, 2022. 9
	250	+
	251	+
	252	+
	253	+
	254	+
	255	+
	256	+
	257	+	Approved:
	258	+	________________________________________________________________________________
	259	+	Governor.
	260	+	________________________________________________________________________________
	261	+	President of the Senate.
	262	+	________________________________________________________________________________
	263	+	Speaker of the House of Delegates.