Sen. Frank A. Ciccone III’s legislation (2016-S 2152) that reduces interest rates on delinquent tax payments was passed by the Senate Committee on Finance yesterday.
“This legislation is about assisting those in our state that are going through tough financial times by helping them get back on their feet,” said Senator Ciccone (D-Dist. 7, Providence, North Providence). “Over taxation in this state is a constant concern for so many and I believe this legislation will help ease the burden that so many of our taxpayers feel on a yearly basis.”
Senator Ciccone’s legislation would reduce the interest rates on delinquent tax payments to between 15% and not less than 10% and would provide for a reduced interest rate for persons on approved payment plans to correct their state tax debt.
The legislation now heads to the Senate floor for consideration.