FOR IMMEDIATE NEWS RELEASE (May 25, 2018 – Hagåtña) – Vice Speaker Therese M. Terlaje introduced Bill No. 290-34 (COR) which will make it the ministerial duty of the Director of Administration to set aside income tax receipts to pay for tax refunds, pursuant to a formula set by the Department of Revenue and Taxation.

“There already is a strong statute in place that should compel the administration to set aside money for tax refunds. This amendment, by describing it as a ministerial duty, is an attempt to give the statute some teeth to allow for legal action if the law is not followed. This is one tool we can use to ensure income tax receipts are properly deposited,” stated Vice Speaker Terlaje.

View Bill 290-34 (COR) here:
http://www.guamlegislature.com/Bills_Introduced_34th/Bill%20No.%20290-34%20(COR).pdf