Rep. Harrell joins effort to reform DOR interest rates

PRESS RELEASE
FOR IMMEDIATE RELEASE: Contact: Betsy Lynch, (404) 656-3996
Friday, August 28, 2015

Rep. Kelley Appointed Chair of Ad Hoc Subcommittee of Ways & Means

ATLANTA – State Representative Jay Powell (R-Camilla), Chairman of the House Ways and Means Committee, recently appointed Representative Trey Kelley (R-Cedartown) to serve as the Chairman of the ad hoc subcommittee of Ways and Means on sales tax refunds and interest rates.  This ad hoc subcommittee was established to study the overpayment of sales tax in Floyd County.

“I’m honored Chairman Powell has placed his trust in me to tackle this issue,” said Rep. Kelley. “While this ad hoc subcommittee came as a result of the current issue in Floyd County, the work we do will have statewide implications. I would be remiss if I did not thank Chairman Katie Dempsey (R-Rome) and the Floyd County House Delegation for the hard work they have already put into studying this issue and exploring potential solutions, and I look forward to working with members of this committee to bring forth legislation that will protect taxpayers and local governments from an event like this taking place in Georgia again.”

The following House members have also been appointed to this ad hoc subcommittee of Ways and Means:

  • Rep. Bob Bryant (D-Garden City)
  • Rep. Brett Harrell (R-Snellville)
  • Rep. Penny Houston (R-Nashville)
  • Rep. David Knight (R-Griffin)
  • Rep. Allen Peake (R-Macon)

This ad hoc subcommittee will conduct a study on the current interest rate as well as the statute of limitations surrounding the interest rate. Rep. Powell also tasked the committee with researching the interest of confidentiality as it pertains to the exchange of crucial information between the Department of Revenue and the General Assembly.

“I look forward to working with Chairman Kelley and committee members addressing these important issues,” said Representative Brett Harrell, Secretary of the House Ways and Means Committee.  “The current statutory rate of 1% per month, paid both as a penalty on delinquent taxes due as well as interest on refunds, is exorbitant relative to prevailing rates in the marketplace today. A floating rate with a margin above an appropriate index will serve our taxpayers and state best.”

For more information on the Ways & Means Committee, please click here.

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