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SENATE FLOOR VERSION
February 12, 2024
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 1415 By: Jech
[ tax procedure - abatement – agreement - waiver
amount - codification - effective date ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 216.6 of Title 68, unless there
is created a duplication in numbering, reads as foll ows:
A. The Oklahoma Tax Commission is hereby authorized and
directed to establish the First Time Abatement Program for the tax
imposed upon individu als pursuant to Section 2355 of Title 68 of the
Oklahoma Statutes. A taxpayer meeting the qualifications provided
in subsection B of this section shall be entitled to a waiver of
penalty and interest due on individual income tax if the taxpayer
voluntarily files delinquent tax returns and pays the taxes due
pursuant to an agreement with the Commission. Upon payment of the
taxes due pursuant to the agreement , the Commission shall abate and
not seek to collect any interest or penalties applicable to t he tax
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liability due pursuant to the agreement and rele ase any liens
imposed.
B. To be eligible for the First Time Abatement Program, the
taxpayer shall:
1. Not have failed to file any necessary returns in the
previous five (5) tax years before the tax delinquency , interest, or
penalties were incurred;
2. Not have previously received a waiver of penalt y or interest
by the Oklahoma Tax Commission ;
3. Not have been convicted for violations of Section 241 of
Title 68 of the Oklahoma Statutes;
4. Have filed all necessary returns pursuant to the laws of
this state; and
5. Have paid all individual income tax liability or entered
into an agreement with the Commission for pa yment of income tax
liability.
C. Any waiver of interes t and penalty pursuant to this section
shall not exceed Ten Thousand Dollars ( $10,000.00) per taxpayer.
SECTION 2. This act shall become effective November 1, 2024.
COMMITTEE REPORT BY: COMM ITTEE ON FINANCE
February 12, 2024 - DO PASS AS AMENDED BY CS