Budget Amendment ID: FY2018-S3-241-R1

Redraft GOV 241

Encouraging saving through split tax refunds

Ms. Donoghue and Mr. O'Connor moved that the proposed new text be amended by inserting after section 31 the following section:-

“SECTION 31A. Section 85 of said chapter 62C, as appearing in the 2014 Official Edition, is hereby amended by inserting after the first sentence the following 2 sentences:-  The commissioner shall permit a taxpayer to designate more than 1 account at financial institutions for the electronic deposit of a refund or abatement.  The commissioner may prescribe the maximum number of accounts eligible to receive electronic deposits and the maximum number of accounts to which a taxpayer may elect to contribute a portion of a refund or abatement.”