The bill amends Section 44-6.5-4 of the Rhode Island Tax Amnesty Act of 2017, specifically addressing the computation of interest on taxes paid during the amnesty period. It establishes that interest on these taxes will be calculated at a rate reduced by 25% from the standard rate specified in § 44-1-7. Additionally, the bill introduces provisions that allow for the waiver of interest and penalties on unpaid delinquent taxes, provided that these taxes are paid in full during a designated one-week tax amnesty period, which will be determined by the tax administrator.

Furthermore, the tax administrator is tasked with making suitable forms and instructions available for taxpayers to facilitate the payment process during this amnesty period. The act is set to take effect immediately upon passage, aiming to encourage compliance and collection of delinquent taxes in Rhode Island.

Statutes affected:
657: 44-6.5-4